2006 a tough year for bond managers - S&P

The market intelligence provider described 2006 as a tough year for managers in the global fixed interest sector as central banks tightened monetary policy. However, while duration and currency bets were important, Randal Goldsmith, lead analyst at Standard & Poor’s, said the timing as well as directionality of duration positioning was significant. He highlighted that within the dollar and sterling areas, Paul Thusby and Peter Geike-Cobb at Thames River, were examples of managers who made money on duration from backing their convictions. In terms of currency, Goldsmith said: “Getting ex...