BlackRock Global Fixed Income CIO Rieder: Cash Release Will Trigger Explosive Rally

"There is too much cash sitting on the sidelines," said BlackRock Global Fixed Income Chief Investment Officer Rieder. He added that SpaceX's initial public offering last week has already forced investors to make room in their portfolios, creating market momentum; after the Iran deal eliminated a key geopolitical risk, this momentum accelerated further. "Once this happens, all that cash gets unleashed very suddenly, especially when good news comes out and people say, 'Oh my gosh, I can get in now.' Once that happens, the burst in activity is quite astonishing," Rieder said in a media interview on Monday.