Zestt

Rates are increasing, holding longer term securities would hurt your return. While you're holding that 10 year 4% corporate bond, other managers are rolling over their 3% 2 year bonds at higher and higher rates.

Rates up = lower duration
Rates down = increase duration

If economy is recovering, chances of default are less. Invest in lower rated securities and pocket the extra yield before they get upgraded.

NO EXCUSES