Hello. I have a big doubt relating bond portfolio strategy and convexity.
I read that when focusing in a ALM (asset liability management) re require less convexity (when convexity is suopose to be good) why is this?
On the other hand, which type of startegy has the greter convexity? Laddered, Barbell of bullet?
So… for a ALM which strategy is better?
Looking forward a response,