BlackRock Sours on U.S. Government Debt Over Blue-Sweep Outlook
- Growing likelihood seen of fiscal expansion, higher inflation
- Firm alters view even as Treasuries gain and stocks sell off
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BlackRock Inc., the world’s largest asset manager, is downgrading its views on U.S. government debt even as Treasuries retain their value as a haven amid Monday’s stock-market selloff.
Worries about rising coronavirus cases weakening the global economy pushed the S&P 500 Index toward its biggest drop in a month. Treasuries advanced, sending 10- and 30-year yields down by around 5 basis points each, to 0.80% and 1.59%, respectively.