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U.S. May jobs data seen supporting bond market: BlackRock
June 2, 2017 / 4:17 PM / 6 months ago

U.S. May jobs data seen supporting bond market: BlackRock

NEW YORK (Reuters) - The U.S. May payrolls report which showed hiring slowed more than forecast would underpin demand for U.S. bonds in the near term, a top bond executive at BlackRock (BLK.N), the world’s largest asset manager said on Friday.

The BlackRock logo is seen outside of its offices in New York City, U.S., October 17, 2016. REUTERS/Brendan McDermid

“While headline payrolls figures disappointed somewhat, when they’re judged within the proper context, the labor market still appears quite healthy,” BlackRock’s chief investment officer of global fixed income Rick Rieder said in a statement.

“Yet, we recognize that this data release will provide another support for yielding U.S. assets, like Treasuries, for a few more weeks.”

Reporting by Richard Leong

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