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BlackRock sees growth edging higher in 2020, limiting recession risks

BlackRock said it was turning neutral on US equities after their stellar performance this year, and was modestly underweight on European equities and European government bonds


Reuters  |  London 

BlackRock said it expects world stock markets to squeeze out another year of gains and that it was cautiously shifting into more 'cyclical' assets such as Japanese stocks and emerging market and high yield debt. Scott Thiel, chief fixed income strategist for BlackRock Investment Institute, the bank's research arm, cited a nudge higher in growth in the first half of 2020 and an improvement in the "mood music" around protectionism as reasons for the optimism. "We are modestly positive on risk assets," said Scott Thiel, chief fixed income strategist ...

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First Published: Tue, December 10 2019. 18:51 IST