BlackRock global fixed income CIO Rick Rieder said US equities rally after Trump announced Iran peace deal reflects cash flowing from money‑market funds. He noted roughly $8 trillion sits on sidelines, waiting to be redeployed. Large‑cap earnings reports this quarter are already benefiting from the inflow, pushing price‑to‑earnings multiples higher.

The recent SpaceX IPO forced portfolio managers to trim cash positions, freeing capacity for equity exposure. Rieder said that shift amplified the rally once the Iran agreement removed a “key geopolitical risk.” Technology firms with strong balance sheets are leading the charge, outpacing broader market gains.

Analysts see the cash influx as a short‑term catalyst rather than a structural market overhaul. Rieder’s comments suggest any reversal in sentiment will depend on whether new capital continues to flow into equities or stalls amid other macro variables. Meanwhile, bond yields have edged lower, reinforcing the appeal of equities. BlackRock's view underscores that the rally reflects a clear reallocation from money‑market shelters to risk‑on assets.