BlackRock increases its allocation to short-term US Treasuries and downgrades US equities: "Rate-hike bets have gone too far," and high yields should be locked in.

Zhito Finance APP notes that BlackRock's research division has turned more bullish on U.S. Treasuries, abandoning the underweight stance that had been its "main theme" for most of the past six years, as yields have climbed to their highest levels in more than two decades.