As a fixed income portfolio manager at an investment firm, you are tasked with managing the firm's portfolio of bonds. Currently, the yield curve exhibits a flattening trend, with short-term interest rates rising due to restrictive monetary policy and long-term rates remaining subdued as a result of low inflation expectations.

Your client, a pension fund seeking stable income with a moderate risk tolerance, has expressed interest in adjusting its fixed income exposure by incorporating yield curve strategies to optimize returns while managing interest rate risk.

Discuss the potential yield curve strategies you would recommend for the pension fund, including the underlying rationale for each strategy, the expected outcomes in the current yield curve environment, and the associated risks. Provide a detailed analysis of at least three yield curve strategies, along with consideration of how leveraging duration or convexity might influence the execution of your recommendations.