Money management giant BlackRock Inc.’s quarterly profit rose 21% as investors leaned on its bond funds to make new bets in volatile markets roiled by the coronavirus pandemic.

The investment firm posted second-quarter profit of $1.2 billion, or $7.85 a share, up from the year-prior period of $1 billion, or $6.41 a share. Its revenue rose 4% to $3.6 billion.

The…

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