BlackRock’s Koesterich Sees Energy Stocks as Best Portfolio Diversifier

Russ Koesterich, Global Allocation Fund portfolio manager at BlackRock, stated that bonds are not functioning as a hedge after yields on 30-year US Treasuries reached their highest level since 2007 this week. Koesterich identified factors driving long-dated bond performance and indicated he does not expect oil at $100 per barrel to halt US economic expansion. Bloomberg reported his comments on portfolio diversification strategies.

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