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BlackRock’s Rick Rieder says the 10-year yield could hit 2% later this year

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Rick Rieder

Olivia Michael | CNBC

BlackRock’s Rick Rieder said he expects the 10-year Treasury yield, which influences mortgages and other loans, to continue edging higher, reaching 2% later this year,

Rieder, acknowledging his call is out-of-consensus, also said the Fed could consider raising interest rates at the short end next year.

In a telephone interview ahead of the Fed’s meeting this week, Rieder, the CIO of global fixed income, said the Fed could begin tapering back its bond purchases by September or December. It could also begin to raise its federal funds target rate next year, earlier than many expect.

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