Blackrock, Inc. shares fall 1.09% intraday after Rick Rieder, CIO of global fixed income, suggests Fed rate cut in September.

Blackrock, Inc. declined 1.09% in intraday trading, with Rick Rieder, chief investment officer of global fixed income at BlackRock, suggesting that the Federal Reserve could cut interest rates by 100 basis points in September, but the economy does not require an intra-meeting cut. Additionally, Jeff Rosenberg, portfolio manager of the Systematic Multi-Strategy Fund at BlackRock, examined the US July jobs report and its impact on the bond market and front end of the yield curve.