Actively managing currencies alongside rates in the same portfolio gives Ben Lazrak more scope than most to play any divergence between economic growth, interest rates and currency valuations.
And the fact that we are on the verge of the first upward move in interest rates in the developed world for the best part of a decade means he is eagerly anticipating playing the hawkish Fed and Bank of England against the more dovish ECB.
Here he explains where, why and how he plays duration (is he short duration like everyone else?), the opportunities he sees that are off-benchmark, as well as how he benefits from China’s slowdown and the weaker currencies of commodity exporters.
