614****46392023-12-16 12:02:35

With a higher duration than the benchmark (8.17 compared with 7.19 for the benchmark), the manager likely expected the rates to fall and took a bullish position on long-term bonds (interest rates) by increasing exposure to the long end of the interest rate curve (e.g., investing 50% of the portfolio in the longest-duration bucket versus 30% for the benchmark).--- 问题1： 这里bullish position 是对long term bond price 看涨吧？ 而不是看涨interest rate ? 问题2：increasing exposure to the long end of the interest rate curve --> 这句话就是说增加long term bond的exposure 对吗？