BlackRock Inc., the world’s biggest money manager, said first-quarter profit rose 20 percent as investors added money to its funds, boosting assets and the fees for managing them.
BlackRock Inc.’s Laurence D. Fink said he doesn’t think the world’s largest money manager has been hurt by high-frequency trading, despite “disturbing” allegations about the practice.
Treasury notes fell as Federal Reserve Chair Janet Yellen said the central bank has a “continuing commitment” to support the recovery even as policy makers see full employment by late 2016.
Czech government bonds are set to continue their outperformance as local investors struggle to find alternatives, according to the country’s second-largest money manager.
The ruble and Russian bonds gained for the first time in four days, while stocks advanced, on speculation Russia won’t extend its incursion in Ukraine.
The euro area’s higher-yielding government bonds are emerging as a haven from emerging-market turmoil as the prospect of greater stimulus from the European Central Bank underpins demand for the securities.
Chinese stocks rose, led by financial companies, as investors weighed prospects for stimulus after data showed the nation’s economic growth slowed to the weakest pace in six quarters.
Russian stocks rose for the first time in four days after the U.S. signaled it won’t impose additional sanctions before talks on the Ukraine crisis.
Laurence D. Fink, chief executive officer at BlackRock Inc., the world’s biggest money manager, took home $22.9 million in 2013 as his compensation rose 13 percent from a year earlier.
The speed and complexity of modern stock markets is partly driven by long-term investors who have adopted strategies pioneered by high-frequency traders, according to a top U.S. securities regulator.
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