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BlackRock’s Rieder: generous yielding fixed income assets – historically attractive value

Rick Rieder is BlackRock’s CIO of Global Fixed Income. He’s posted up a tweet storm on Friday’s jobs report, in brief:

there is a very gradual, but persistent, moderation within the broader employment pictureWhen you sum up the conditions of these employment indicators and the trend that they clearly depict, in terms of cooling, and a reversion to more of a pre-Covid labor normalcy, this can marry quite nicely to inflationary conditions that have also reverted quite closely to pre-Covid levels.the appropriate conditions are unfolding for the
to begin reducing its very restrictive Fed Funds rate by 25 basis points

Reider on what it means for bonds:

He may well have read Adam over the weekend:

I believe this is a rare moment to lock in investments with high rates for a long duration in the same way that the pandemic was a once-in-a-lifetime to lock in low borrowing rates.

This article was written by Eamonn Sheridan at www.forexlive.com.

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