Business

Black Rock to lift holdings of Australian state-issued bonds

BLACKROCK Inc, the world’s biggest money manager by assets, plans to increase holdings of debt issued by Australian states, and expects federal-government bond yields to plunge to record lows. BLACKROCK Inc, the world’s biggest money manager by assets, plans to increase holdings of debt issued by Australian states, and expects federal-government bond yields to plunge to record lows.Steve Miller, head of Australian fixed income at BlackRock, said the high-yielding securities offered by state borrowers – also known as semis – and their relatively strong balance sheets represent a buying opportunity in a world of diminishing AAA-rated governments. State-government debt is similar to municipal debt issued in the US.

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