Ken Fisher’s Firm Seen Behind $4 Billion Contrarian Bond Trade

Markets Contact us:Provide news feedback or report an error Confidential tip?Send a tip to our reporters Site feedback:Take our Survey By Greg Ritchie and Silla Brush August 19, 2026 at 3:35 PM UTC Billionaire Ken Fisher’s eponymous firm appears to be betting that the longest-dated US bonds will rally, a contrarian stance that seeks to capitalize on yields close to their highest in two decades . Fisher Investments was the driving force behind a record $4 billion influx of cash earlier this month into a BlackRock Inc. exchange-traded fund that invests in US Treasuries dated 20 years or longer, according to analysts and data reviewed by Bloomberg. That was accompanied by a similarly-sized outflow from a separate BlackRock Treasury fund with a shorter average maturity, suggesting a switch to further out the yield curve.