Bullish bonds, add duration on yield break.
She is positive on bonds, expecting 5-6% return from carry on 5-6 year bonds this year. She prefers a flat trade (long duration) because if central banks stay hawkish, investors will buy the long end, and she would add long duration on 30-year US Treasury if yields break above 5.1-5.2%, as she believes those levels offer medium-term value.