BlackRock chief Larry Fink raised the red flag Thursday on low and negative interest rates around the world, saying he's worried bond yields would drop further before ultimately going higher.
"I would not be surprised — I'm not predicting it — if somebody told me the 10-year Treasury is at 75 basis points, I would not be surprised," Fink told CNBC's "Squawk Box" in a wide-ranging interview, during which he also said the stock market should not be at record highs.
"At some point, we are going to see the end of the 30- [or] 40-year bull cycle in [bond prices]," he said. Bond prices and bond yields have an inverse relationship, so when bond prices go up, yields go down.
The 10-year Treasury bond yield ticked up to more than 1.53 percent early Thursday, as U.S. stock futures powered higher after the Bank of England's surprise decision to keep interest rates unchanged. The Dow Jones industrial average and on Wednesday closed at records again.
Fink, head of the world's largest asset manager, reiterated that low rates are a "disaster" for savers. "We've been saying at BlackRock for over a year, we're miscalculating what low or negative interest rates are doing to savers."