Yield Curve Strategies: Barbell vs Bullet

XYZ Fixed Income Management is assessing various yield curve strategies to enhance the performance of its bond portfolio. The firm currently holds a mix of short-term and long-term bonds but is considering a repositioning to exploit potential changes in interest rates. Discuss the advantages and disadvantages of employing a barbell strategy versus a bullet strategy within their fixed income portfolio. Provide recommendations on which strategy might be more appropriate given the current economic outlook and yield curve expectations.