BlackRock’s Rick Rieder said that market expectations for the Federal Reserve to begin cutting interest rates in March are likely too early. “Today’s re-trenchment makes some sense to me,” the firm’s chief investment officer of global fixed income said on Bloomberg TV’s ETF IQ program Monday, as Treasuries sold off across the yield curve. The market action reflects the fact that Fed Chair Jay Powell didn’t intend to be “that aggressive about starting to cut this quickly.” Rieder said he was surprised by Powell’s dovish tone during Wednesday’s FOMC meeting. For example, he didn’t reference that the central bank was ... (full story)