Rick Rieder, global fixed income CIO at BlackRock, says the stronger-than-expected April employment report calls into question the depth of an anticipated US recession. "The backdrop is solid, which questions the deep recession story for sure," he says on "Bloomberg The Open." Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: Connect with us on... Twitter: Facebook: Instagram: ... ( read more )
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BlackRock, the world's largest asset manager, has raised doubts over predictions of a deep recession following a strong jobs report in the United States. The report, released by the Labor Department, showed a surprise increase in job growth, leading many to question the severity of the economic downturn caused by the COVID-19 pandemic.
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