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Jens Bies, head of interest rate and currency research and asset management at Helaba Invest, said the company is using the recent rise in U.S. Treasury yields to gradually extend the duration of its portfolios. Given that the market has now priced in expectations of more than three Fed rate hikes, he noted: "We see investment potentialespecially at the short end of the yield curve, where the risk-reward ratio is particularly favorable." He also said that only when economic growth begins to slow will the long end of the yield curve become attractive again.