BlackRock CEO Larry Fink signals elevated U.S. interest rates will persist; firm has trimmed AI stock positions and downgraded equities in favor of bonds.
Macro & Markets ·
BlackRock's CEO has stated that U.S. interest rates will remain elevated over an extended period. The firm began reducing its long positions in AI stocks on July 8, and on October 12 shifted its stance by downgrading U.S. equities while upgrading U.S. government bonds.