LONDON (Reuters) - BlackRock, the world’s largest asset manager, has “taken advantage” of the recent widening in Spanish yield spreads, the fund’s deputy chief investment officer for fixed income said on Tuesday.
Spanish 10-year yields spiked to the highest since March last week and spreads over German yields widened, following an independence referendum in the Catalonia region which was deemed illegal by Madrid.
Yields have since eased as the secessionist Catalan leader has faced pressure to abandon plans to declare independence.
Scott Thiel told reporters he considered it a base case scenario for Spain to stay unified.
Reporting by Karin Strohecker; writing by Sujata Rao; editing by Mike Dolan