Stocks surged this week but BlackRock's chief investment strategist says you shouldn't let that fool you. The safest place to invest your money is in the bond market, he said.
Concerns over the direction of the Federal Reserve's monetary policy have whipsawed stocks, while injecting more of a fear factor into yields. Yet BlackRock's Jeff Rosenberg thinks the volatility can work to the advantage of bond investors.
Fed Chair Janet Yellen "has taken away a lot of the fear of a very soon and potentially fearful move by the Fed. And that's really going to cap how big of an increase we're going to see in interest rates," Rosenberg told CNBC's "Fast Money" this week.
He added, "We're positively inclined to bonds here, as we've been before, in terms of interest rate risk."