Inflation, and the resultant path of interest rates, remain key drivers for economies and markets. What are the prospects for growth as a result? If we are in a contractionary period currently, much will depend on whether a pause in central bank tightening will enable a recovery to play out.
Macro Pulse offers holistic global economic, geopolitical, and asset allocation views. We believe the next 3 months mark a major inflection point for global asset allocation. Will U.S. growth slow, allowing rates to decline and global growth to converge? Or will it re-firm, increasing the likelihood of a more pronounced…
Despite tightening central banks and economic slowdown, 2023 was a good year for investors. If only the same could be said for my Aristotle List of surprises for the year, writes Paul Jackson, Global Head of Asset Allocation Research.
A new investment environment is emerging with opportunities that may not have existed in years. Uncertainty remains high, but the good news is, in 2024, investors may be rewarded for taking risk again.
In 2023, sovereign investors find themselves navigating an altered macroeconomic environment, marked by surging inflation and higher real interest rates.
To better understand how family offices globally navigated a tumultuous year and their outlook for 2023 and beyond, BlackRock and Illuminas conducted a survey of family offices at the end of 2022 into 2023 to better understand their priorities, challenges and portfolio positioning.
Real assets are tangible, physical assets that have an inherent value deriving from their attributes and usefulness. The asset class includes commodities, land, precious metals, real estate, equipment and machinery, and natural resources. Occasionally, this definition is expanded to include an element of inflation protection…
The quarterly Relative Value & Tactical Asset Allocation Outlook for Q2 2024: We continue to expect the United States to enter a recession in 2024; fundamentals of consumers and housing remain strong; commercial real estate fundamentals are generally stable outside the office sector.
We remain positioned for a recovery in the global cycle, while the United States has moved back from an expansion to a recovery phase due to decline in leading indicators back to below-trend levels. Growth outside the US continues to improve while inflation declines.
The new, more volatile economic regime provides different yet abundant investment opportunities. Persistent supply constraints are compelling major central banks to hold policy rates high. We find opportunities by getting granular within asset classes and harnessing mega forces.
The post-pandemic economic cycle is turning. Slowing growth means corporate earnings will moderate and interest rates will peak, contributing to a trough in asset prices. Strong corporate and household balance sheets should bolster economic outcomes but may also make future policy support less likely. As a result, recession…
Much of the world continues to move past the Covid-19 pandemic, but its remarkable effects on economies and policies remain top of mind as a new set of uncertainties enters the picture. Historic pandemic-era moves by both fiscal and monetary policymakers had already reawakened inflation after a multi-decade slumber in most…
Different narratives are evolving at this point in time, leading to higher uncertainty in the market. The monetary narrative is the clearest and most advanced one. Central bank mandates are evolving from being anchored to keeping inflation under control, to a situation where extraordinary monetary policy becomes the new…
The BlackRock global family office survey report combines data aggregated from an extensive online survey completed by 185 family offices globally as well as in-depth interviews with 20 family offices. Explore BlackRock's insights around market outlook, asset allocation and sustainable investing.
A tough 2022, a humbling 2023 and disparate outlooks for 2024 have left investors with a lot of tough choices. For strategists, there are fewer definitive answers still.
In this podcast, Sonja Laud, LGIM's CIO, is joined by Guy Whitby-Smith, Head of Solutions, and John Roe, Head of Multi-Asset Funds, who share their insights and analysis, including key market trends for the coming year.
As detailed in our 2024 Outlook, we are entering a new paradigm that we expect to pose challenges to both equity returns and the reliability of traditional diversifiers. We see thematic investing as an idiosyncrasy to exploit within asset allocations, and discuss this in the first section of this publication.