Bloomberg Talks BlackRock Fixed Income CIO Rick Rieder Talks State of the Markets
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Feb 6, 2026 
Rick Rieder, BlackRock's Chief Investment Officer for Global Fixed Income and veteran portfolio manager. He discusses how missing jobs data from the US shutdown muddies market signals. He contrasts weak job metrics with pockets of strong growth. He explores AI's impact on work and education. He outlines fixed-income positioning including EM, securitization, mortgages and Asia exposure.
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Jobs Data Gaps Don't Hide Labor Strain
- Missing published jobs data complicates market moves but does not obscure the broader jobs-picture signals.
- Rick Rieder says alternative indicators (JOLTS, Challenger, claims, ISM) show the labor market is clearly under strain.
Economy Runs On Asset-Rich Cylinders
- The economy runs unevenly: strong capex and consumption among wealthier cohorts but weak jobs for younger and lower-income groups.
- Rieder argues this makes monetary policy less potent because spending concentrates in asset-rich households.
Revise Curriculum To Fold In AI
- Update education and training to integrate AI as an augmenting tool for learning and future work skills.
- Teach disciplines that shift people into fulfilling roles AI cannot fully replace, Rieder says.