U.S. equities continue to climb, but BlackRock Global Chief Investment Strategist Russ Koesterich discusses why the best opportunities may reside outside the United States, which, in fact, has been the case so far this year.
Russ Koesterich and his Investment Strategy Group take us through the highs (emerging-market stock rally) and lows (global bond selloff, momentum trades losing momentum) in April while offering their thoughts on what is next for financial markets.
One of the tried-and-true mantras of investing is the importance of diversification. But not all diversification is created equal, and one way to achieve broader diversification is through alternative investing.
Municipal bonds were down modestly in April amid increased interest rate volatility and a pick-up in new issuance. BlackRock muni pros suggest bracing for more volatility, but believe near-term pullbacks may present buying opportunities.
Declining U.S. growth and rising European growth in the 1Q looks less like divergence and more like convergence. Risk assets appear too complacent, leading us to upgrade our caution over the next few months.
While the Fed has provided a clearer path for U.S. rates, the scenario of low global rates for longer is not expected to change any time soon. Negative credit rating actions on the asset class remain a concern but the risks are more fairly priced in, and the impact of a stronger dollar varies according to whether EM nations are commodity exporters or importers.
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