Government debt offers few opportunities and investors should buy equities, according to Ewen Cameron-Watt, chief investment strategist of the BlackRock Investment Institute, the research unit of the asset manager.

“In the government stuff, there’s just really no opportunity to make money,” Cameron-Watt said in an interview on Bloomberg Television’s “Surveillance” with Tom Keene and Sara Eisen.

“If you look at the bond market, it is just one big interest-rate bet right now.”

Short-duration bonds are preferable to long-ones, Cameron- Watt said. “The duration opportunity, the opportunity to make money over the long-term lies with equities,” he said.