Closing Bell Closing Bell: Trading this Uncertain & Unsettled Market 3/30/26
Mar 30, 2026
Leslie Picker, finance reporter who explains regulatory moves, breaks down the DOL proposal to open 401(k)s to private assets and private credit performance. Rick Rieder, BlackRock CIO for global fixed income, discusses positioning in volatile markets, cash and hedging tactics, where he would buy, and rate expectations. They focus on market resilience, private credit risks, and tactical entry approaches.
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Market Resilience Masks Historic Dispersion
- Major indices look resilient despite massive macro shocks, but there's historic dispersion beneath the surface.
- Rick Rieder points to large cash pools, strong technicals like buybacks, and pockets of stressed but holding credit markets driving that split.
Raise Cash And Be Selective Buying Volatility
- Stay conservative and raise cash while volatility and uncertainty persist.
- Rieder says BlackRock has increased cash, clipping coupon in front-end rates and selectively selling volatility to fund selective equity buys.
Volatility Is Expensive So Selling Insurance Can Pay
- Volatility pricing has inverted from prior years: insurance (options) is expensive now so selling downside can finance buying equities.
- Rieder notes elevated vol across equities, rates and FX creates one-way costly hedges, so selling some insurance pays investors to enter positions.