I don’t get this! There are three lines on why mr. Vikram sharma would opt for a bullet structure.
“This approach avoids longer maturity securities to insulate the portfolio against possible adverse moves at the long end of the curve” while he categorically maintains that he expects the longer end to be unchanged.
“The duration of his holdings may be less concentrated than Gupta’s given his benign view of long rates” is this a good justification, if it is one at all?