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Using this securities strategy within a security class, invest 40% in short term, 20% in medium term and 40% in long term. For 5y UST portfolio, maintain 40% in 1y to go maturities, 20% in 2-4y to go maturities, and 40% in the newly issued 5y. This trades complexity of managing the security and transactional costs for a higher yield of longer -term holdings, while still maintaining a large degree of liquidity.
What is the Barbell Approach