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.
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