Investors may be wary of the volatility hitting parts of the bond market right now, but they have an "historic" opportunity to grab attractive yields in high-quality credit, Rick Rieder, BlackRock's chief investment officer for global fixed income, told CNBC in an exclusive interview. Hypothetically, it's now possible for investors to build a diversified portfolio that yields more than 7% with less than three years of duration and an average credit quality of A-, he said. Duration is a measurement of a bond's price sensitivity to fluctuations in rates, and issues with shorter maturities tend to have lower duration.
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