BlackRock’s Rieder Would Rather Buy Stocks Than Long-Dated Debt

BlackRock Inc.’s Rick Rieder sees more opportunity in the stock market at the moment than at the long-end of the Treasury curve.

Shorter-dated debt is attractive from an income perspective, said Rieder, CIO of global fixed income for the world’s biggest asset manager. But he said long-duration bonds are growing increasingly correlated to equity-market moves and no longer act as a hedge.