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BlackRock’s Rieder Counsels Patience as Stocks and Bonds Sag

Bloomberg business news
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With stock and bond prices falling, U.S. investors should patiently set aside cash and prepare to put money to work later this year, according to Rick Rieder, chief investment officer of global fixed income for BlackRock Inc., the world’s largest asset manager.

“Patience is at the top of my investment pyramid today,” Rieder said during an interview Friday with David Westin on Bloomberg Television’s “Wall Street Week.”