Jan 29, 2024
We think stock momentum can run for now as inflation cools and the Federal Reserve readies to cut rates. We go overweight U.S. stocks overall. Read more.
Jan 22, 2024
Geopolitical fragmentation is playing out in recent events in Asia and the Middle East. We see it keeping inflation pressures elevated longer term. Read more.
Jan 8, 2024
Risk assets surged to end 2023 as the Federal Reserve blessed market hopes for rate cuts. That momentum could persist for some time as inflation cools. Read more.
Jan 2, 2024
2023 stressed the value of adapting to a new volatile macro regime, and leveraging investment insight and structural forces to find opportunities. Learn how.
Dec 11, 2023
The new regime has led to greater dispersion of returns. We think this calls for managing macro risk, being selective and seeking out mispricings. Learn more.
Dec 5, 2023
The new regime of greater macro and market volatility has resulted in greater uncertainty and dispersion of returns. We believe an active approach to managing investment portfolios will carry greater rewards as a result.
Nov 20, 2023
We see volatility as a constant in the new regime. We’re neutral long-term U.S. Treasuries due to more balanced after three years of rising yields. Read more.
Nov 6, 2023
Developed market (DM) central banks have signaled high-for-longer policy rates. We stay selective in DM equities and prefer international stocks. Learn why.
Oct 30, 2023
Tectonic shifts in the U.S. financial sector are changing the markets for deposits and credit. This is a mega force we see affecting returns now and in the future.
Oct 23, 2023
U.S. corporate earnings have stagnated with the economy. We stay selective in stocks and harness mega forces like artificial intelligence as key profit centers.
Oct 16, 2023
We turn tactically neutral long-term Treasuries as markets price high-for-longer policy rates but stay underweight strategically. Read more.
Oct 9, 2023
We see markets adjusting to the new regime. This is not a typical business cycle – learn why we think structural mega forces are shaping the outlook now.
Oct 2, 2023
Markets are adjusting to the new volatile regime. We see opportunities in the UK and euro area bond repricing, and still prefer Japanese equities. Read more.
Sep 25, 2023
Bond yields are surging as the volatile macro regime brings uncertainty over central bank policy and risks ahead. We get granular in bonds and equities.
Sep 18, 2023
We see the new regime playing out and a high interest rate world, with stagnant activity and persistent inflation. We shift our tactical views to reflect this outlook.
Sep 11, 2023
Market narratives have flip-flopped through the year as the new macro regime plays out. We stay selective amid stagnating activity and volatile inflation.
Aug 14, 2023
U.S. corporate earnings have stagnated for a year, but Q2 beat a low bar. Expectations of improving margins look rosy. We stay selective in stocks. Learn why.
Jul 31, 2023
Major central banks tightened policy last week, including unexpectedly in Japan. Learn why we see a risk that Japanese bond yields pull global yields higher.
Jul 24, 2023
Central banks are set to hike policy rates again. Read why we see them holding tight even as markets expect rate cuts to soon follow due to cooling inflation.
Jul 17, 2023
Learn why we favor emerging market (EM) assets over developed market peers. We apply our new playbook to EMs by getting granular and harnessing mega forces.
Jul 10, 2023
Higher expected corporate earnings mask broad pressure under the surface. Read why we see more earnings pain ahead and look for opportunities within sectors.
Jul 3, 2023
Learn why we see different and abundant opportunities in the new regime. We go granular within asset classes, regions and sectors – and harness mega forces.
Jun 28, 2023
We are in a new macro regime that provides different but abundant investment opportunities. We get granular in asset classes and harness mega forces: structural shifts like artificial intelligence and the rewiring of globalization that can drive returns.
Jun 28, 2023
We are in a new macro regime that provides different but abundant investment opportunities. We get granular in asset classes and harness mega forces: structural shifts like artificial intelligence and the rewiring of globalization that can drive returns.
Jun 12, 2023
BlackRock investment leaders at our Outlook Forum agreed the new regime is playing out. They eye assets that price that in. Read more takeaways.
Jun 5, 2023
We see market focus returning to higher-for-longer rates and sticky inflation after a U.S. debt ceiling deal. Read why we prefer an up-in-quality portfolio.
May 30, 2023
We prefer private to public credit long term. It’s the mirror image in equity: We prefer public stocks. Read why.
May 15, 2023
We think the U.S. debt limit showdown will spark more market volatility. Learn how that reinforces why we stay invested and cautious by going up in quality.
May 8, 2023
Financial cracks from rate hikes have caused jitters in commercial real estate. Yet granularity is key. Read why we see the appeal of some industrial assets.
May 1, 2023
We see bond yields staying high in the new regime – that means income is back as a portfolio driver. Learn how we stay nimble and granular across fixed income.
Apr 24, 2023
We are leaning into our preference for emerging market (EM) assets due to China’s restart, ending EM rate hiking cycles and a weaker U.S. dollar. Learn more.
Apr 10, 2023
We upped our overweight of inflation-linked bonds in March to take advantage of the market pricing lower inflation – our new playbook in action. Learn more.
Apr 3, 2023
We see the U.S. policy push for leadership in clean tech and Europe’s fast-developing response creating near-term and strategic opportunities. Read more.
Mar 27, 2023
Central banks confront the growth-inflation trade-off, with the Fed seeing recession but no rate cuts. Learn why we agree – and prefer inflation-linked bonds.
Mar 20, 2023
Financial cracks from rapid rate hikes are emerging. Read why we are underweight equities, downgrade credit and prefer short-term government bonds for income.
Mar 13, 2023
Stocks are starting to reflect the damage from higher rates. We see more hikes due to sticky inflation. But expected earnings still look rosy to us. Read more.
Mar 6, 2023
We think improving euro area activity signals more rate hikes. We like short-term government bonds, high-quality credit and selected equity sectors. Read more.
Mar 6, 2023
We think improving euro area activity signals more rate hikes. We like short-term government bonds, high-quality credit and selected equity sectors. Read more.
Feb 28, 2023
Some of the forces weighing on markets last year are now reversing. But we don't think that means recession can be avoided. Read our view.
Feb 21, 2023
Markets are waking up to our expectation of more central bank rate hikes as inflation proves sticky. We go overweight U.S. short-term bonds. Learn why.
Feb 13, 2023
The Bank of Japan looks set to shift its ultra-loose policy as inflation takes root. Read why we see risks to global yields, risk appetite and Japanese stocks.
Feb 6, 2023
We see central banks stumbling into a new phase of the inflation fight. Read what that means for rate hikes and why we like short-term bonds and credit.
Jan 30, 2023
We don’t see major central bank rate cuts in 2023. We prefer income in short-term bonds, high-grade credit and agency mortgage-backed securities. Read more.
Jan 23, 2023
Three positive developments to start the year have reinforced our long-term positive view on equities. Yet read why we think market optimism has come too soon.
Jan 17, 2023
Emerging markets have weathered tightening financial conditions. We see a relatively good backdrop for EM assets as EM rates peak and China reopens. Read why.
Jan 9, 2023
Recession foretold in developed markets, a pause in central bank rate hikes and China’s reopening help shape 2023 and reinforce our tactical views. Learn more.
Jan 9, 2023
The transition towards a decarbonized economy is underway. It will involve a massive reallocation of resources, inevitably impacting portfolios.
Jan 3, 2023
2022 was marked by historic shocks – war, soaring inflation and a perfect market storm. Read how they shaped our three investment lessons for the new year.
Dec 12, 2022
Central banks are trying to crush demand to bring down inflation. We think markets are wrong to expect them to come to the rescue. Learn why in our commentary.
Dec 5, 2022
The new regime is playing out. Read why we think that requires a new, dynamic playbook based on views of market risk appetite and pricing of macro damage.
Nov 30, 2022
The Great Moderation, the four-decade period of largely stable activity and inflation, is behind us. The new regime of greater macro and market volatility is playing out. That’s why a new investment playbook is needed.
Nov 28, 2022
Aging has worsened labor shortages, raising the cost of taming inflation. We see the Fed living with some inflation. Learn what that means for investing.
Nov 14, 2022
Surging stocks show that markets believe hopes of a soft landing by the Fed to be true. Learn why we disagree and stay underweight developed market stocks.
Nov 7, 2022
BlackRock’s top investment leaders got together at the Outlook Forum. The upshot: The new regime is not about to change, and we need a new playbook. Learn why.
Oct 31, 2022
We see central banks on a path to overtighten policy. Their balance sheet reductions up selling pressure on government bonds, so we’re underweight. Read more.
Oct 24, 2022
The recession we see from Federal Reserve rate hikes eclipses any impact from U.S. midterm elections. Read why we stay underweight developed market stocks.
Oct 17, 2022
We’re underweight government bonds because yields have room to move higher, and we don’t think they can be a safe haven when recession comes. Read why.
Oct 3, 2022
The new regime poses a stark trade-off for central banks: tame inflation or preserve growth. Read why we see them overtightening and learn how we keep risk low.
Sep 26, 2022
Many central banks aren’t acknowledging the extent of the recession needed to get inflation quickly down to their targets. Read more for the implications.
Sep 19, 2022
A new regime of macro volatility is playing out with weaker growth, persistent inflation and volatile markets. Read why we reaffirm our tactical views.
Sep 12, 2022
We think the energy crisis will spur a recession in Europe. The ECB is trying to fight inflation without recognizing the costs. Learn more in our commentary.
Sep 6, 2022
Policymakers are starting to acknowledge the new regime, but they’re ignoring the trade-off between inflation and growth. Read what that means for stocks.
Aug 15, 2022
We see company earnings deteriorating as consumer spending shifts and the restart sputters. Read our commentary to learn how this affects our view on stocks.
Aug 8, 2022
We prefer credit over equities in the short term as a new market regime with higher volatility takes shape, in our view. Read our commentary to learn why.
Jul 18, 2022
Europe is facing the risk of an energy shock-driven recession and periphery stress. Read how we think that will affect the ECB’s plans to hike interest rates.
Jul 11, 2022
The Great Moderation, a period of steady growth and inflation, is over, in our view. Instead, we are braving a new world of heightened macro volatility – and higher risk premia for both bonds and equities.
Jul 11, 2022
We’ve downgraded most developed market equities to underweight in the short term, while we lean into credit. Read more in our market commentary.
Jul 5, 2022
Commodities prices have spiked as demand from the restart clashed with tight supply. Read why we see an era of structurally higher commodities prices ahead.
Jun 29, 2022
The transition towards a decarbonized economy is underway. It will involve a massive reallocation of resources, inevitably impacting portfolios.
Jun 27, 2022
Growth concerns, inflation and volatility fueled the debate at our Outlook Forum over why we’re entering a new macro and market regime. Read what that means.
Jun 21, 2022
We see the Fed on a path to raise rates far enough this year to hurt growth and grind the U.S. activity restart to a halt. Read why in our market commentary.
Jun 6, 2022
We think central banks have primed markets to expect too many rate hikes. That keeps us neutral on stocks in the short run. Read more in our market commentary.
May 23, 2022
We downgrade our developed market equities overweight to neutral given three key risks to the economic outlook. Find out more in our market commentary.
May 16, 2022
We recently cut risk, but we still prefer stocks over bonds for now. Find out why in our market commentary.
May 9, 2022
We upgrade European government bonds and investment grade credit, and downgrade Chinese assets to reduce risk amid a worsening macro outlook. Learn more.
May 2, 2022
Wages are rising at the fastest clip since the 1980s. Yet we think wages can rise more without adding to inflation. Learn why in our market commentary.
Apr 11, 2022
Supply shocks have created scarcity inflation, making higher inflation more persistent and increasing the risk of a growth slowdown. Read our market commentary.
Apr 4, 2022
The West is trying to wean itself off Russian energy in the wake of the tragic war in Ukraine. We see this hurting growth and increasing inflation. Learn more.
Mar 31, 2022
The West is weaning itself off Russian energy: a fresh supply shock in a world shaped by supply. What does it mean for the economy and net-zero? Read our view.
Mar 31, 2022
The West is weaning itself off Russian energy: a fresh supply shock in a world shaped by supply. What does it mean for the economy and net-zero? Read our view.
Mar 29, 2022
We update our Q2 2022 outlook views in the wake of the energy shock and the Fed’s hawkish pivot on rates. Learn more in our global weekly market commentary.
Mar 21, 2022
The Fed is projecting large and rapid increases in rates to tame inflation. We think this could just be tough talk. Learn why in this week's market commentary.
Mar 14, 2022
The war in Ukraine has caused a terrible human toll. We see it extracting a heavy economic price as well – is stagflation ahead? Read our market commentary.
Feb 22, 2022
Markets have been volatile so far this year and geopolitical tensions are top of mind. So, where do we see opportunities? Read the Global weekly commentary.
Feb 14, 2022
In 2020, we theorized about a shift towards sustainability and now we have evidence that a repricing of assets is happening. Read the Global weekly commentary.
Feb 7, 2022
Markets are pricing in more rate hikes. We see this as too hawkish. What will this mean for the net-zero transition? Read the Global weekly commentary.
Feb 2, 2022
The journey to net-zero carbon emissions is unfolding now - and offers extraordinary investment risks and opportunities.
Jan 31, 2022
We explain why we do not plan to buy the dip...yet. Read our market take in the Global weekly commentary.
Jan 24, 2022
We trim our underweight of U.S. Treasuries. Learn why in the Global weekly commentary.
Jan 20, 2022
We’ve entered an era where supply constraints are the driving force of inflation, rather than excess demand. This will likely bring more macro volatility and force policymakers to live with higher inflation.
Jan 18, 2022
We believe the historically low sum total of rate hike is key, not the timing. Learn more in the Global weekly commentary.
Jan 10, 2022
We believe the Omicron virus spike will derail and not delay the powerful economic restart of activity. Learn more in the Global weekly commentary.
Dec 16, 2021
We are entering a new market regime unlike any in the past half century.
Dec 13, 2021
We take away three investing lessons of 2021. Read our take in the Global weekly commentary.
Nov 15, 2021
Inflation was a key topic at our 2022 Outlook Forum. Read about the discussions in our Global weekly commentary.
Nov 8, 2021
EMs play a key role in the global net-zero transition. Read about why it matters to investors in our Global weekly commentary.
Oct 25, 2021
What do surging coal and natural gas prices tell us about the net-zero transition? Read more in our Global weekly commentary.
Jun 13, 2018
Japan has one of the world’s highest average life expectancy at 83.7 years, but its healthcare, social security and welfare systems were designed for a society where people lived to just 70 or 80. In order to ensure adequate retirement income for all, there is urgency to supplement the public pension systems with private defined contribution plans (DC) plans and develop appropriate decumulation solutions as well as tools and technology to help people navigate the retirement planning process. In this ViewPoint, we examine Japan’s current pension system, identify areas for improvement and conclude with recommendations for the Japanese government and industry to work together to develop solutions.
