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BlackRock?
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Why BlackRock?

We explored if
money makes
you happier
But not in the way you think. Every year, we ask people how they think and feel about their financial health. This year, we went deeper than ever to understand the connection between wealth and well-being through our annual Investor Pulse Survey.

We explored if money makes you happier

Should markets take note of cyberattacks?
TOP LINE
Cyberattacks by state and non-state actors have increased in sophistication and quantity. We see a persistent risk of attacks on business-critical infrastructure and major elections — and would worry particularly about a nation state attacking the U.S.
Reason for concern
Increased internet-connected devices and availability of open source code have lowered the barriers to entry for cyber actors, leading to increased attacks. Cyberattacks are increasingly becoming part of the arsenal of nation states. For example, North Korea’s cyber capabilities are growing in scale and sophistication.
Reason for concern
Many companies have witnessed sharp share price declines after disclosing cyberattacks in recent years. Attacks have typically targeted companies with large amounts of personal data.
Impact of cyberattacks on companies
Chatter down, risk up
Market talk of cyberattacks has edged down, making the potential market impact bigger.
BlackRock Geopolitical Risk Indicator
SOURCES

Sources: BlackRock Investment Institute, with data from Thomson Reuters. Data as of December 14, 2018. Notes: We identify specific words related to this geopolitical risk and use text analysis to calculate the frequency of their appearance in the Thomson Reuters Broker Report and Dow Jones Global Newswire databases as well as on Twitter. We then adjust for whether the language reflects positive or negative sentiment, and assign a score. A zero score represents the average BGRI level over its history from 2003 up to that point in time. A score of one means the BGRI level is one standard deviation above the average. We weigh recent readings more heavily in calculating the average. The BGRI’s risk scenario is for illustrative purposes only and does not reflect all possible outcomes as geopolitical risks are ever-evolving.

BOTTOM LINE
We find limited market attention to the rising risk of major cyberattack, indicating its occurrence could have a high impact on global equities. Potential market implications of cyberattacks could include a selloff in global risk assets as investors flee to perceived safe haven assets. At-risk industries include utilities, energy and defense companies.
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Should markets take note of cyberattacks?

This story originally appeared in
BlackRock Geopolitical Risk Dashboard on December 7, 2018

Should markets take note of cyberattacks?

Two sides to the U.S. dollar story
The U.S. dollar’s story so far this year has two sides: appreciating against most developed market peers and depreciating against emerging market currencies. We explain the drivers behind the dollar’s performance – and its outlook – in our weekly commentary.
Yield differentials and year-to-date currency performance vs. U.S. dollar
Yield differentials and year-to-date currency performance vs. U.S. dollar
SOURCES

Past performance is not a reliable indicator of current or future results. It is not possible to invest directly in an index. Sources: BlackRock Investment Institute, with data from Bloomberg and Thomson Reuters, as of February 2019. Notes: We use two-year government bond yields as a proxy for currency yields. Currency yield differentials are the differences between the government bond yields of the country that issues a certain currency and those in the U.S. The currency yield of the euro is represented by the average two-year government bond yield of Germany, Italy and France. Performance shown is as of Feb. 13, 2019, and represented by the change in each currency’s exchange rate against the dollar.

Two sides to the U.S. dollar story

U.S. recession? Not quite
We see a slowdown in global growth and corporate earnings in 2019 as the U.S. economy approaches a late-cycle phase. We don’t see a recession as near, but growing economic and market uncertainty means investors may want to position portfolios accordingly.
Building a resilient portfolio is about more than dialing down risk. Taking risk in select areas can help investors achieve long-term goals.
USMV
Made from a mix of U.S. stocks that demonstrate lower risk, to help reduce volatility from market swings.

U.S. recession? Not quite

Lower your
investment fees
Investors who are looking to lower fees in their portfolio, or get started at a low cost, may want to consider broad index exchange traded funds (ETFs).
While stocks, bonds and commodities have been around for centuries, index funds have revolutionized how investors access these assets.
AGG
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Set a target for
your retirement
People are living longer, which means they need their retirement savings to last longer, too. Starting early and understanding the different ways to save can help investors build a retirement plan with confidence.
The investment needs of your retirement plan will likely change over time. No matter where you are in life, find a plan that matches your goals and tolerance for risk.
Target date funds mix different types of stocks, bonds and other investments that rebalance over time, targeting the year you would like to retire.
These target date funds are professionally managed portfolios of diversified investments that adjust over time.

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USMV

57.12

Net Asset Value ($)

9.03

Total Returns (%)

BGSIX

29.88

Net Asset Value ($)

16.13

Total Returns (%)

Morningstar Rating

BMSIX

10.00

Net Asset Value ($)

3.67

Total Returns (%)

Morningstar Rating