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BlackRock fixed-income chief Rick Rieder tells the WSJ he was a big buyer of the long bond (TLT)...

BlackRock fixed-income chief Rick Rieder tells the WSJ he was a big buyer of the long bond (TLT) in early April, believing the BOJ's massive easing and weak U.S. economic data would ensure a firm bid for the paper. Bonds, of course, have rallied strongly since then. Well played? In an April 8 interview with the FT, Rieder said he was worried about higher rates and favoring shorter durations. Check.
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Comments (2)
  • bbro
    , contributor
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    I traded with PImco....they never tell you their true position....certainly not the press...
    19 Apr 2013, 01:29 PM Reply Like
  • contrarianadvisor
    , contributor
    Comments (1391) | Send Message
     
    Perhaps he did buy some TLT but I'll bet his portfolio was skewed to the short duration side. Almost all the institutional fixed income guys have consistently argued that rates have bottomed and are moving higher. They've been wrong for three years but they've been ardent in their view that bonds should be sold.
    19 Apr 2013, 04:43 PM Reply Like
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