Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income, stated that despite volatility in some areas of the bond market, there is a "historic" opportunity in high-grade bonds. Investors can construct a diversified portfolio with a duration of less than three years, an average credit rating of A-, and a yield exceeding 7%. He noted that the economy remains strong, and there is no need to worry about default risk. Rieder's iShares Flexible Income ETF has increased its allocation to investment-grade corporate bonds to 14.3%.