Times are good — in some quarters.
The yield curve has steepened, volatility has soared, and Mustafa Jama, chief investment officer at Morgan Stanley Alternative Investment Partners, a $12 billion fund of hedge funds, is happy to see it.
For at least three years — through last summer — a flat yield curve combined with record low volatility to leave slim pickings for hedge fund managers who look for relative value among fixed-income securities.
