BlackRock bond chief Rick Rieder manages $2.4 trillion. He shares 5 trades he's most bullish on right now — and 3 criteria that need to be met for him to start buying 10-year Treasurys.

BlackRock bond chief Rick Rieder manages $2.4 trillion. He shares 5 trades he’s most bullish on right now — and 3 criteria that need to be met for him to start buying 10-year Treasurys.

October 3, 2023

in Stocks

Reading Time: 2 mins read

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The BlackRock bond chief who oversees $2.4 trillion for the asset manager says yields on the benchmark bond will probably stay elevated for some time as the government continues to issue hundreds of billions of dollars’ worth of the asset per week to fund its expenses. This month, 10-year yields have surged from 4.1% to 4.6%.

“I think we’ll get some time and some issuance, and I don’t think the Fed is going to tell you tomorrow that they’re moving in terms of cutting rates,” Rieder said at CNBC’s Delivering Alpha conference in New York on Thursday, adding that he thinks the Fed will cut in the second half of 2024. “There will be a point in time where you want to get some more duration in, but I just don’t think we need to race into that today.”