In terms of potentially elevated volatility and bond markets, it's not just bond yields and how we managed duration that would be important. We've also seen lots of volatility in terms of yield curves slope, so big moves flatter and in fact inversion in the yield curves and then shorter periods of re-steepening. And away from curve we now starting to me some volatility in currencies as well. And these banking headlines they have created volatility and credit spreads as well. Now, we need a flexible strategy to take advantage of all these different risk premia across fixed income. So building on duration management including country selection with emerging markets as well, but also looking at yield curve risks, looking at currencies and taking spread risk is something we need to do to make the most of the opportunity set out there for fixed income this year.

In the webcast, Luke Copley, Portfolio Manager, will share his views on Global Fixed Income Outlook.