For this week’s ETF Wrap I caught up with Rick Rieder, BlackRock’s chief investment officer of global fixed income, on how he’s approaching debt markets with...
Hi! For this week’s ETF Wrap I caught up with Rick Rieder, BlackRock’s chief investment officer of global fixed income, on how he’s approaching debt markets with his actively managed ETF in a bruising August for many bond funds.
His actively managed ETF over that same stretch has outperformed popular funds that broadly track the U.S. investment-grade bond market, including so far this month. “If you marry a high level of safe yield with some things that have some upside that are giving you enough cushion,” he said, “you can build balance in a portfolio.”
Ten-year Treasury yields finished Thursday at 4.307% the highest level since November 2007 based on 3 p.m. Eastern Time levels, according to Dow Jones Market Data. As for the hunt for yield, Rieder said “agency mortgages are a place we’ve been going” with the BlackRock Flexible Income ETF. Active funds can help people diversify away from indexes, while providing “some tactical management” in areas of fixed income that are harder for ordinary investors to reach, he said, such as mortgage-backed securities and high-yield bonds.
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