In the Thursday edition of the
Wall Street Journal Fund Track column
(login required), Kevin Kingsbury covered BlackRock's
first quarter numbers, which Larry Fink
unveiled Wednesday. While earnings rose from $1.48 a share to $1.82 a share, the latest number came in below analyst expectations. BlackRock saw its customers yanking money from fixed income and placing funds into cash instruments. "Clients are confused," Fink said, noting that its "very hard to make any real return on owning Treasury securities or being even in a core fixed-income strategy."
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