INSIGHTS & VIEWS
INVESTMENT INSIGHTS
Our thought leadership in investing, risk management, portfolio construction and trading solutions.
Skip to content
Welcome to BlackRock Corporate site
Before we proceed, please take a moment to review and accept the following terms and Conditions:
Please read this page before proceeding as it explains certain restrictions imposed by law on the distribution of this information and the jurisdictions in which our products and services are authorised to be offered or sold.
By entering this site, you are agreeing that you have reviewed and agreed to the terms contained herein, including any legal or regulatory restrictions, and have consented to the collection, use and disclosure of your personal data as set out in the Privacy section referred to below.
By confirming below, you also acknowledge that you:
(i) have read this important information;
(ii) agree your access to this website is subject to the disclaimer, risk warnings and other information set out herein; and
(iii) are the relevant sophistication level and/or type of audience intended for your respective country or jurisdiction identified below.
The information contained on this website (this “Website”) (including without limitation the information, functions and documents posted herein (together, the “Contents”) is made available for informational purposes only.
No Offer
The Contents have been prepared without regard to the investment objectives, financial situation, or means of any person or entity, and the Website is not soliciting any action based upon them.
This material should not be construed as investment advice or a recommendation or an offer or solicitation to buy or sell securities and does not constitute an offer or solicitation in any jurisdiction where or to any persons to whom it would be unauthorized or unlawful to do so.
Access Subject to Local Restrictions
The Website is intended for the following audiences in each respective country or region: In the U.S.: public distribution. In Canada: public distribution. In the UK and outside the EEA: professional clients (as defined by the Financial Conduct Authority or MiFID Rules) and qualified investors only and should not be relied upon by any other persons. In the EEA, professional clients, qualified clients, and qualified investors. For qualified investors in Switzerland, qualified investors as defined in the Swiss Collective Investment Schemes Act of 23 June 2006, as amended. In DIFC: 'Professional Clients’ and no other person should rely upon the information contained within it. In Singapore, public distribution. In Hong Kong, public distribution. In South Korea, Qualified Professional Investors (as defined in the Financial Investment Services and Capital Market Act and its sub-regulations). In Taiwan, Professional Investors. In Japan, Professional Investors only (Professional Investor is defined in Financial Instruments and Exchange Act). In Australia, public distribution. In China, this may not be distributed to individuals resident in the People's Republic of China ("PRC", for such purposes, excluding Hong Kong, Macau and Taiwan) or entities registered in the PRC unless such parties have received all the required PRC government approvals to participate in any investment or receive any investment advisory or investment management services. For Other APAC Countries, Institutional Investors only (or professional/sophisticated /qualified investors, as such term may apply in local jurisdictions). In Latin America, institutional investors and financial intermediaries only (not for public distribution).
This Contents are not intended for, or directed to, persons in any countries or jurisdictions that are not enumerated above, or to an audience other than as specified above.
This Website has not been, and will not be submitted to become, approved/verified by, or registered with, any relevant government authorities under the local laws. This Website is not intended for and should not be accessed by persons located or resident in any jurisdiction where (by reason of that person's nationality, domicile, residence or otherwise) the publication or availability of this Website is prohibited or contrary to local law or regulation or would subject any BlackRock entity to any registration or licensing requirements in such jurisdiction.
It is your responsibility to be aware of, to obtain all relevant regulatory approvals, licenses, verifications and/or registrations under, and to observe all applicable laws and regulations of any relevant jurisdiction in connection with your access. If you are unsure about the meaning of any of the information provided, please consult your financial or other professional adviser.
No Warranty
The Contents are published in good faith but no advice, representation or warranty, express or implied, is made by BlackRock or by any person as to its adequacy, accuracy, completeness, reasonableness or that it is fit for your particular purpose, and it should not be relied on as such. The Contents do not purport to be complete and is subject to change. You acknowledge that certain information contained in this Website supplied by third parties may be incorrect or incomplete, and such information is provided on an "AS IS" basis. We reserve the right to change, modify, add, or delete, any content and the terms of use of this Website without notice. Users are advised to periodically review the contents of this Website to be familiar with any modifications. The Website has not made, and expressly disclaims, any representations with respect to any forward-looking statements. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.
No information on this Website constitutes business, financial, investment, trading, tax, legal, regulatory, accounting or any other advice. If you are unsure about the meaning of any information provided, please consult your financial or other professional adviser.
No Liability
BlackRock shall have no liability for any loss or damage arising in connection with this Website or out of the use, inability to use or reliance on the Contents by any person, including without limitation, any loss of profit or any other damage, direct or consequential, regardless of whether they arise from contractual or tort (including negligence) or whether BlackRock has foreseen such possibility, except where such exclusion or limitation contravenes the applicable law.
You may leave this Website when you access certain links on this Website. BlackRock has not examined any of these websites and does not assume any responsibility for the contents of such websites nor the services, products or items offered through such websites.
Intellectual Property Rights
Copyright, trademark and other forms of proprietary rights protect the Contents of this Website. All Contents are owned or controlled by BlackRock or the party credited as the provider of the Content. Except as expressly provided herein, nothing in this Website should be considered as granting any licence or right under any copyright, patent or trademark or other intellectual property rights of BlackRock or any third party.
This Website is for your personal use. As a user, you must not sell, copy, publish, distribute, transfer, modify, display, reproduce, and/or create any derivative works from the information or software on this Website. You must not redeliver any of the pages, text, images, or content of this Website using "framing" or similar technology. Systematic retrieval of content from this Website to create or compile, directly or indirectly, a collection, compilation, database or directory (whether through robots, spiders, automatic devices or manual processes) or creating links to this Website is strictly prohibited. You acknowledge that you have no right to use the content of this Website in any other manner.
Additional Information
Investment involves risks. Past performance is not a guide to future performance. The value of investments and the income from them can fall as well as rise and is not guaranteed. You may not get back the amount originally invested. Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase.
Privacy
Your name, email address and other personal details will be processed in accordance with BlackRock’s Privacy Policy for your specific country which you may read by accessing our website at https://www.blackrock.com.
Please note that you are required to read and accept the terms of our Privacy Policy before you are able to access our websites.
Once you have confirmed that you agree to the legal information herein, and the Privacy Policy – by indicating your consent – we will place a cookie on your computer to recognise you and prevent this page from reappearing should you access this site, or other BlackRock sites, on future occasions. The cookie will expire after six months, or sooner should there be a material change to this important information.
BlackRock
Investment Institute
The BlackRock Investment Institute (BII) leverages the firm’s expertise and generates proprietary research to provide insights on the global economy, markets, geopolitics and long-term asset allocation – all to help our clients and portfolio managers navigate financial markets.
Meet the BII team
The BlackRock Investment Institute connects BlackRock’s experts on the global economy, markets, portfolio construction and geopolitics.
Geopolitical risk dashboard
We show market attention to top geopolitical risks, assess their likelihood, and analyze the potential market impact.
The economic restart is real and it is broadening out globally, but what comes next?
BBL open
Title: 2021 midyear outlook: Looking beyond the restart
Hero Shot/ID
Wei Li
Global Chief Investment Strategist for BlackRock
Our first theme for the rest of 2021 is what we call the new nominal, where we expect higher inflation in the medium term as a result of a more muted monetary policy response to inflation than in the past.
We’re turning even more positive on European equities and upgrading Japanese equities to neutral. We are moderating our view on the U.S. equities to neutral.
Our second theme is China stands out. Chinese assets play a key role in an increasingly bifurcated U.S.-China world and they need to be considered as a stand-alone asset allocations. The quality revolution in China, putting the quality of growth over the quantity of growth makes us tactically neutral on Chinese equities, but strategically overweight.
Our third theme is the net-zero journey. Our journey to net zero, in terms of carbon emission, has a clear starting point and a destination, but there’s no road map and we see many zig-zags along the way. We’ve overweight, the tech sector, as better positioned for the green transition.
The bottom line is as the economic restart broadens out, we remain pro-risk, even though the path for risk assets for push higher is getting narrower.
2021 midyear outlook: Looking beyond the restart
What comes after the economic restart? We see three themes for markets shaping the remainder of the year. Watch Wei Li, Global Chief Investment Strategist, explain on this episode of BlackRock Bottom Line.
Stay ahead of markets with the latest insights from the BlackRock Investment Institute.
Please try again
Thank you for your subscription!
We usually publish weekly insights on every Monday. Expect to receive your first newsletter from us this upcoming Monday.
Explore more
About Us
Newsroom
Insights
-
INSIGHTS & VIEWS
Investor Relations
Corporate sustainability
Careers
-
Careers at BlackRock
© 2021 BlackRock, Inc. All rights reserved.
General Disclosure: This material is prepared by BlackRock and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of the date shown above and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by BlackRock, its officers, employees or agents. This material may contain ’forward looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. This material is intended for information purposes only and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, BlackRock funds or any investment strategy nor shall any securities be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Investment involves risks.
In the U.S. and Canada, this material is intended for public distribution. In the U.S. and Canada, this material is intended for public distribution. In the UK and outside the EEA: Until 31 December 2020, issued by BlackRock Investment Management (UK) Limited, authorized and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel: + 44 (0)20 7743 3000. Registered in England and Wales No. 2020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorized activities conducted by BlackRock. From 31 December 2020 in the event the United Kingdom and the European Union do not enter into an arrangement which permits United Kingdom firms to offer and provide financial services into the European Union, the issuer of this material is: BlackRock Investment Management (UK) Limited for all outside of the European Union; and BlackRock (Netherlands) B.V. for in the European Union. BlackRock (Netherlands) B.V. is authorized and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20-549-5200. Trade Register No. 17068311. In Switzerland, this document is marketing material. This document shall be exclusively made available to, and directed at, qualified investors as defined in the Swiss Collective Investment Schemes Act of 23 June 2006, as amended. For investors in Israel: BlackRock Investment Management (UK) Limited is not licensed under Israel’s Regulation of Investment Advice, Investment Marketing and Portfolio Management Law, 5755-1995 (the “Advice Law”), nor does it carry insurance thereunder. In South Africa, please be advised that BlackRock Investment Management (UK) Limited is an authorized financial services provider with the South African Financial Services Board, FSP No. 43288. In the DIFC this material can be distributed in and from the Dubai International Financial Centre (DIFC) by BlackRock Advisors (UK) Limited — Dubai Branch which is regulated by the Dubai Financial Services Authority (DFSA). This material is only directed at 'Professional Clients’ and no other person should rely upon the information contained within it. In the Kingdom of Saudi Arabia this information is only directed to Exempt Persons, Authorized Persons or Investment Institutions, as defined in the relevant implementing regulations issued by the Capital Markets Authority (CMA). In the United Arab Emirates this material is only intended for -natural Qualified Investor as defined by the Securities and Commodities Authority (SCA) Chairman Decision No. 3/R.M. of 2017 concerning Promoting and Introducing Regulations. Neither the DFSA or any other authority or regulator located in the GCC or MENA region has approved this information. In the State of Kuwait, those who meet the description of a Professional Client as defined under the Kuwait Capital Markets Law and its Executive Bylaws. In the Sultanate of Oman, to sophisticated institutions who have experience in investing in local and international securities, are financially solvent and have knowledge of the risks associated with investing in securities. In Qatar, for distribution with pre-selected institutional investors or high net worth investors. In the Kingdom of Bahrain, to Central Bank of Bahrain (CBB) Category 1 or Category 2 licensed investment firms, CBB licensed banks or those who would meet the description of an Expert Investor or Accredited Investors as defined in the CBB Rulebook. In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In South Korea, this material is for distribution to the Qualified Professional Investors (as defined in the Financial Investment Services and Capital Market Act and its sub-regulations). In Taiwan, independently operated by BlackRock Investment Management (Taiwan) Limited. Address: 28F., No. 100, Songren Rd., Xinyi Dist., Taipei City 110, Taiwan. Tel: (02)23261600. In Japan, this is issued by BlackRock Japan. Co., Ltd. (Financial Instruments Business Operator: The Kanto Regional Financial Bureau. License No375, Association Memberships: Japan Investment Advisers Association, the Investment Trusts Association, Japan, Japan Securities Dealers Association, Type II Financial Instruments Firms Association.) For Professional Investors only (Professional Investor is defined in Financial Instruments and Exchange Act). In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975 AFSL 230 523 (BIMAL). The material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. In China, this material may not be distributed to individuals resident in the People’s Republic of China (“PRC”, for such purposes, excluding Hong Kong, Macau and Taiwan) or entities registered in the PRC unless such parties have received all the required PRC government approvals to participate in any investment or receive any investment advisory or investment management services. For other APAC Countries, this material is issued for Institutional Investors only (or professional/sophisticated /qualified investors, as such term may apply in local jurisdictions) and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, BlackRock funds or any investment strategy nor shall any securities be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. In Latin America, for institutional investors and financial intermediaries only (not for public distribution). No securities regulator within Latin America has confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at http://www.blackrock.com/mx.
©2021 BlackRock, Inc. All Rights Reserved. BLACKROCK is a trademark of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective owners.
MKTGH0721E/S-1721920-1/1