Bloomberg Surveillance Bloomberg Surveillance TV: November 12th, 2025
13 snips
Nov 12, 2025 
Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income, discusses the impact of AI on the labor market and how lower rates could stimulate housing and job growth. Jon Lieber from The Eurasia Group dives into the repercussions of a possible government shutdown on economic data and policymaking, while Matt Miskin, Co-Chief Investment Strategist at Manulife, analyzes how weak job data and AI are influencing market sentiment. Together, they explore investment strategies amidst current economic challenges.
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3% Inflation Could Be Manageable
- Rieder thinks running inflation nearer 3% is tolerable if it isn't accelerating and expectations stay anchored.
- He highlights sticky components like healthcare, education and insurance where rates have limited transmission.
Use Balance Sheet To Anchor Long Rates
- Rieder urges the Fed to use balance-sheet tools and back-end yield-curve management, not just the overnight rate.
- He proposes stabilizing the 10-year and letting front-end runoff to tighten mortgage spreads and reduce volatility.
Active Bond Positioning For Today's Regime
- In BINK, Rieder keeps interest-rate duration near four years and shifts into mortgages and EM when appropriate.
- He advises avoiding stretched investment-grade credit and favoring A- rated diversified holdings for income with lower risk.