BlackRock's Bond Chief: Lock That Bond Yield! | Rick Rieder

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Today’s guest is Rick Rieder, BlackRock’s Chief Investment Officer of Global Fixed Income, Head of the Fundamental Fixed Income business, and Head of the Global Allocation Investment Team. Rick is responsible for roughly $2.4 trillion in assets.
In today’s episode, Rick shares his take on the macroeconomic landscape as we kick off a new year. He touches on the set up for both stocks and bonds and why he’s focused on finding companies that have “rivers of fast cash flow.” We talk about several other topics including crypto, AI, Japan, the recent shift by the Fed, US debt levels, and much more.
As we wind down, Rick touches on his entrance into the ETF space this year with two fund launches.
To see links or read the transcript of the episode, visit us at:
mebfaber.com/2024/01/10/rick-...
• 0:55 - Welcome Rick back to the show
• 2:01 - Reflecting on current market dynamics
• 4:39 - The state of the bond market
• 8:25 - Rick’s take on inflation dynamics
• 10:20 - Areas of the market that Rick likes today
• 15:23 - Opportunities in fixed-income today
• 21:26 - Rick touches on several asset classes, including crypto, Japan & India
• 32:03 - Rick’s new ETFs
• 35:26 - Reviewing unexpected outcomes from the last year
• 41:31 - Rick's most controversial viewpoints
• 45:58 - Thoughts on AI
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[@colby4580]

Rick's one of the best people to listen to about investing. Great episode.

[@MonteRosa849]

Excellent discussion! 👏

[@blue-fj9ky]

What do you think that 75% of your peers think is crazy...great question and great answer!

[@JC-by6cl]

Great outside the box questions.

[@donniemoder1466]

Where do you get 6.5% interest bonds? Where?

[@tomhunt-pj3wm]

You need a trading search screen there are depressed bonds that mature between 3-5 years from now.

[@ggttuuxx]

He said "six, six and a half". Which part is the truth and which is the extra padding? 😂

[@brunomanco7529]

Those are corporate long bonds. Apple 2045 bonds was just a tad above 6% a couple months ago, dont know now. Also the m-reits i think they passed 7%, but these have the risk of loosing principal if theres a refi comeback. I allways was a at&t and verizon long bonds investor, but since the short rate is so high i never bought more again

[@jimjackson4256]

As far as the US debt it is the US govt vs compound interest.Which will win? I’m going with compound interest.

[@randomdude7384]

He talks a great deal about "clipping the 6% yield on commercial paper, high yield, and agency mortgages." What difference does it make to the average investor, from a tax perspective? The 10-year Treasury bond (as well as the front end of the curve) at 500 bps doesn't differ much from the credit described above, on the basis of the net returns (net of taxes). Those who got to lock in the 10-year Treasury bond at 500 bps are going to do remarkably well in the next 10 years; they got to lock in real risk-free returns, net of state taxes.

[@edwardkierklo2510]

Japan has been a disappointment for decades. The currency may be a better bet as it is supposedly due for significant appreciation against the dollar.