FILE PHOTO: An indication for BlackRock Inc hangs above their constructing in New York U.S., July 16, 2018. REUTERS/Lucas Jackson/File Photo
LONDON (Reuters) – BlackRock Investment Institute stated on Tuesday it was cautiously rotating into cyclical assets, Japanese equities and rising markets.
“We are modestly positive on risk assets,” stated Scott Thiel, chief fastened revenue strategist for BlackRock Investment Institute, citing as causes a nudge greater in progress within the first half of 2020 and an enchancment within the “mood music” round protectionism.
“Market returns will be consistent with late cycle dynamic,” he added.
BlackRock was turning impartial on U.S. equities, was modestly underweight European equities and underweight European authorities bonds, stated the agency at a media briefing.
Reporting by Marc Jones; Writing by Tom Arnold; Editing by Karin Strohecker