BLK · News · 20260807N

Interest Rate Environment

BlackRock, Inc. · 2026-08-07 · Importance 14 · Surprise 24

BlackRock fixed-income CIO Rick Rieder described the July U.S. employment report as “unremarkable” and said the economy is undergoing a productivity revolution. He discussed the implications for Federal Reserve monetary policy and BlackRock’s current positioning in fixed income. Separately, BlackRock said an unexpected U.S. decision to sell euros to support the Japanese yen has increased geopolitical risks and reduced the appeal of longer-maturity government bonds. The firm linked the move to declines in longer-dated government bonds and higher 30-year Treasury yields.

Key facts

• BlackRock said the U.S. decision to sell euros to support the Japanese yen increases geopolitical risks and makes longer-maturity government bonds less appealing, contributing to a slide in longer-dated government bonds and increased 30-year Treasury yields. source
• Rick Rieder described the July US employment report as 'unremarkable' while discussing Federal Reserve monetary policy and BlackRock's fixed income investing approach. source