BlackRock Eyes U.S. Mortgage Debt

BlackRock is seeking opportunities to purchase U.S. mortgage agency debt, Reuters reports. Rick Rieder, the firm’s CIO of fixed-income, fundamental portfolios is targeting the relative quality of ‘GSE’ debt along with other credits.

The move by the world’s biggest money manager comes after Standard & Poor’s downgraded the U.S. sovereign rating. As part of upgrading the liquidity of its portfolio, BlackRock has been buying agency mortgages, added Rieder.

Click here for the story from Reuters.