BlackRock's Rieder says bond market volatility has peaked and stocks may have hit bottom

BlackRock's Rick Rieder said the Fed's barrage of liquidity programs and rate cuts, as well as the proposed stimulus package from Congress, have proved a boost to markets.

"I don't think we go back down under 2,300 again," said Rieder, global chief investment officer of fixed income.select stocks in the health care, technology and construction sectors, but that the market had not yet bottomed at that point. "I'd say we're not 180 degrees better by any sense. Maybe we're 90 degrees better because we have the fiscal stimulus and the monetary stimulus," he said. "We need to see employment and the economy and the virus stabilize to get to 180 degrees."

Rieder said he will be watching Thursday's weekly jobless claims report, at 8:30 a.m. ET, since it will be the first data on how hard the labor market has been hit by the pandemic.was at 0.869%. "I think the 10-year could back up to 1%, but I don't think we're moving significantly higher than that any time soon. My sense is we're going to be at 60 basis points on the low, for awhile unless we see an exogenous shock," said Rieder.

"The Fed has been effective at targeting the areas that are under stress," said Rieder. "The area that was most broke was the break even inflation market. That was just signaling we were going into a depression. Once they came in, the market has stabilized."

How many US deaths are 'priced in'? 100k? 1M?

Bottomless

FOOL

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Treat with caution: rocketing stocks aren't cause for comfortThose pining for a bottom to the gut-wrenching stock market selloff may be disap... Bu bu bu bu but line go up ...just a relief spasm......no bottom yet, the economic caranage has yet to be seen, measured, published, reforecasted...... Stock market is a mine field right now
Source: Reuters - 🏆 2. / 97 Read more »

What to do with down payment money in high-yield savings account - Business InsiderIf you've been saving for a down payment and earning interest on your savings, you may be wondering if moving the money somewhere else is smart right now
Source: BusinessInsider - 🏆 729. / 51 Read more »

The stock market just had a rare '90%-up day' that could signal a bottomFor subscribers: The stock market just had a rare '90%-up day' that could signal a bottom. Check out CNBCPro and get your first 30 days free. Pro Lol yeah right Pro 90% up day? Pro Your country is about to witness 1 million deaths. We're not bottoming guys
Source: CNBC - 🏆 12. / 72 Read more »