After yields on the U.S. Treasury 10-year notes dipped below 2 percent for the first time since May 2013, a series of risks could push them even lower, one fixed-income expert said Wednesday.
"I don't think it's the U.S. economy," said Rick Rieder, BlackRock Chief Investment Officer of Fundamental Fixed Income. "We're pretty sanguine about U.S. growth."
Issues that impact yields include geopolitical risk, health-care concerns and crowded positions in the market, said Rieder, whose 10-year target for the yield on the 10-year bond was 2.50 to 2.60 percent.
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On CNBC's "Halftime Report," Rieder said he expected GDP to show 3 percent growth in the third quarter but saw other risks in the market.