According to CoinMeta, and as reported by Bloomberg, Russ Koesterich, the portfolio manager of Blackstone Global Allocation Fund, stated that energy stocks represent the best option for diversifying a portfolio. He pointed out that as the yield on 30-year U.S. Treasury bonds rose to its highest level since 2007 this week, bonds have not been effective as a hedging tool. He also discussed the factors driving long-term bond prices and why he believes that oil prices of $100 per barrel will not hinder economic expansion in the United States.