JPMorgan to BlackRock Turn Away From Duration as Economies Open

JPMorgan Asset Management and BlackRock Inc. are betting that a strong economic recovery in the U.S. and elsewhere may start hurting parts of the bond market as Treasury yields resume rising.

They are looking at duration, a measure of the sensitivity of a bond’s price to interest rate changes. JPMorgan says it’s trimming that gauge due to concern global economic growth will push benchmark yields back up and hurt notes including Asia investment-grade dollar securities. BlackRock says it’s short or underweight on duration for the U.S. and U.K., while Amundi SA, Europe’s largest asset manager, has also urged a prudent ...