Confused by the Reflation Debate? You've Got Company at BlackRock

From bloomberg.com

“I’m pretty confused.” Those three words last week from Laurence D. Fink, BlackRock Inc.’s chief executive officer, would seem to sum up the feelings of many bond traders. The global reflation trade has all but flatlined in recent weeks: After reaching a more than two-year high in December, benchmark 10-year Treasury yields have been stuck in a 25-basis-point range this year. Even congressional testimony Tuesday from Federal Reserve Chair Janet Yellen, in which she said it’d be “unwise” to wait too long to raise interest rates, failed to jolt the market out of its trading band. BlackRock, the world’s ... (full story)