BlackRock chief executive Laurence Fink says the financial crisis has passed its peak.

“Armageddon is behind us,” he told Bloomberg TV.

“We entered this year with tremendous fear, uncertainty, and investors at that time were very happy in earning zero in money market funds or in short-term Treasuries.”

But now they are moving out along the risk curve, snapping up stocks, corporate bonds, junk bonds, and emerging market securities.

The Standard & Poor’s 500 Index has jumped 40 percent from its March low, and the S&P 500 Financials Index has gained almost 100 percent during that period.

“We’re at a point where there’s much greater stability,” Fink says. “People are now starting to ask, ‘Maybe I can earn more than zero’.”

As a result, he says, “We see clients starting to move out, in terms of investing in credit, and we’ve seen a re-stabilization in equities.”

BlackRock will soon become the world’s largest money manager, thanks to its agreement to buy

Barclays Global Investors for $13.5 billion.

“The market needs a breather, in the equities markets and in the credit markets,” Fink says.

“But the overall trend is more positive. We are in the midst of a recovery in our economy, albeit a slow one.”

Others are bullish on the markets too.

For example, CNBC’s Jim Cramer recently said on the air, “Any pullback [by stocks] will be a selloff in a bull market.”