Yields on benchmark 10-year U.S. Treasury notes need to rise higher than 3 percent to prompt investors to flee the bond mutual fund for equities, according to Jeffrey Rosenberg of BlackRock Advisors LLC.
Investors are “putting a back-up generator in the basement of a flood-prone area” by piling into longer-dated fixed-income securities with yields at about record lows, according to BlackRock Inc.’s Jeffrey Rosenberg.
BlackRock Inc., the world’s biggest money manager, hired Jeffrey Rosenberg from Bank of America Corp. as chief investment strategist for fixed-income to help expand the the firm’s offerings to individual investors.
Wall Street’s biggest firms are predicting intensifying bond losses in emerging markets, where borrowing costs have already soared to the highest in more than four years versus U.S. corporate debt, as the Federal Reserve considers curtailing record stimulus.
Jeffrey Rosenberg, chief investment strategist for fixed-income at New York-based BlackRock Inc., the world’s biggest money manager which oversees about $3.6 trillion in assets, comments on investing in a low interest rate environment.
Jeffrey Rosenberg, head of global credit research at Bank of America Corp., has left the largest U.S. lender to join BlackRock Inc., according to a person familiar with the move, who declined to be identified because it hasn’t been announced.
Universal Health Services Inc., the operator of more than 100 U.S. hospitals and other medical facilities, plans to sell high-yield, high-risk notes as Treasury-bond yields have fallen to their lowest this year and investors shun the stock market.