US bond managers play defense ahead of expected fed rate hike
The managers of some of America's biggest bond funds are trying to protect their portfolios from the effects of a potential interest rate hike by cutting exposure to emerging markets, boosting liquidity and reducing duration. The managers, who spoke to Reuters on the sidelines of the Morningstar Investment Conference in Chicago, said they worry about an anticipated rate hike by the Federal Reserve later this year, which would be the U.S. central bank's first since 2006.
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