Bond managers face duration conundrum as rate hike timings pushed out

Current market consensus is for rates to remain on hold in the UK until January 2017, and until next year in the US, after recent market turmoil threatened to destabilise the global economy. The Bank of England left rates unchanged once again this month, as September's inflation figures fell back into negative territory, while the Bank's chief economist Andrew Haldane recently said further cuts may be necessary to support economic growth.  The uncertainty has led some investors to believe the current backdrop could even warrant further quantitative easing from central banks. Richar...