BlackRock

We met with the portfolio managers of BlackRock Strategic Income Opportunities to have a wide-ranging discussion on their approach and why it’s so well suited to the current market environment.

What to do in equity portfolios at the midyear point? Fundamental Equities CIO Tony DeSpirto assesses the backdrop and identifies three favored sectors.

Over the last year, we’ve experienced heightened macroeconomic uncertainty with several events impacting society and financial markets.

The ECB and the Fed both need to quickly normalize policy from the emergency settings adopted when the pandemic first hit.

The geopolitical crisis in Ukraine creates a stagflationary shock for global economies. The plan to fight inflation just got far more complicated for global central banks.

Russia’s tragic invasion of Ukraine has layered on existing supply imbalances, causing geopolitical uncertainty and a global energy shock.

Russ Koesterich, Managing Director and Portfolio Manager of the Global Allocation team, discusses the case for the cheaper segments of growth stocks.

Inflation and hawkish central bank talk have spooked investors and led to bond losses not seen since the 1980s in developed markets (DMs).

Seeking resilience. 2022 started with rising interest rates, high inflation and unthinkable violence and human tragedy in Europe.

War in Europe comes at a time when the global economy was just emerging from the COVID-19 pandemic.

The Fed last week signaled a large and rapid increase in its policy rate over the next two years and struck a surprisingly hawkish tone, indicating it’s ready to go beyond normalizing to try to tame inflation.

Market Update from BlackRock's municipal bond team. 

When an iceberg comes into view, investors must be wary of the danger, but Rick Rieder and team argue that it's also important to recall that calmer seas may lie beyond.

Market volatility is a given, but that doesn’t make its inevitable appearance any less stressful.

Nearly four years ago, we wrote a market commentary titled “A New Waze of Investing” in which we highlighted the incredible technological innovations that were changing our everyday lives and our perspectives on long-term investing.

Energy sector leaders quickly shifted from the “green” economy in 2020 to the “brown” economy in 2021.

Impact investing is gaining interest as a growing share of investors seeks tangible progress on environmental and social goals alongside financial returns.

Rick Rieder and team identify 11 themes that could drive returns in 2022, as the greatest monetary experiment since the advent of flat currency enters its next phase.

Russ discusses the recent volatility and how to hedge the risk in the current environment.

What might equity investors expect in 2022? Active stock picker Tony DeSpirito reviews the potential positives and impediments in his Q1 market outlook.

It’s well studied that factors like debt and financial uncertainty impact the way people feel about retirement and prepare for it. In this series, BlackRock explores insights from our 2021 DC Pulse research and additional work with the Employee Benefit Research Institute (EBRI) to recognize inequitable effects and find ways to build a better retirement for all.

We are entering a new market regime unlike any in the past half century: We see another year of positive equity returns coupled with a down year for bonds. But we have dialed back our risk-taking given the wide range of potential outcomes in 2022.

Supply chain issues are making headlines, particularly as consumers are seeing prices rise and delivery times lengthen amid product and component shortages. International equity investors Gareth Williams and David Vos offer four Investment takeaways.

Historically, fourth quarter tax loss selling of closed-end funds (“CEFs”) has been prevalent in the market. CEFs may be more susceptible to tax loss selling given they trade on a stock exchange and market prices (investor return) can deviate from underlying net asset values (“NAVs”) (fund return).

The busy retail season is in full swing, but what can investors make of the longer-term outlook for consumer stocks? Sophie Steel of BlackRock Fundamental Equities looks beyond the seasonalities to three factors that are reshaping the opportunities across consumer sectors.

Rick Rieder and team examine the parallels, or lack of them, between the economy, markets and policy of the 1970s and today.

BlackRock Portfolio Manager, Russ Koesterich, CFA, JD discusses his preference for the US dollar over a long Treasury hedge in the current markets.

Portfolio manager Michael Fredericks reflects on markets and investing to generate income while managing risk over the last decade.

The bonds that held market expectations and central bank policies closely together during the COVID-era are starting to break. BlackRock's quant bond experts discuss the latest developments in inflation dynamics, liquidity in the financial system, and changes in China's policy reaction.

Achieving “net zero” by 2050 will require a shift in the global energy mix, from both a supply and consumption perspective. This has implications for portfolio allocations and alpha generation but there are diverse perspectives on the emergent risks and opportunities related to this shift.

The results of hiring high quality, skilled workers can impact several business functions for companies. But is there added potential for talent acquisition strategies to lead to positive social outcomes and improved financial results?

It’s well-studied that factors like debt and financial uncertainty impact the way people feel about retirement and prepare for it. In this series, BlackRock explores insights from our 2021 DC Pulse research and additional work with the Employee Benefit Research Institute (EBRI) to recognize inequities and help find ways to build a better retirement for all.

This Halloween season, Rick Rieder and team shed light on today's market ghosts, ghouls and goblins and how to build a resilient investment portfolio around them.

September lived up to its reputation as a bad month for stocks. Global equity markets declined more than 4%, making September the worst month since the start of the pandemic. Beyond seasonal weakness, many attributed equity losses to higher interest rates.

Matters of money can pull at both our intellect and our emotions. And when markets get shaky, that’s when the internal tug-of-war kicks into high gear. Two investment pros share strategies for keeping calm and investing on.

Saving for retirement is a decades-long endeavor with factors – both excepted and unexpected – that can affect confidence and preparedness. Even though much of the conversation has centered around amassing a nest egg, it’s also important to look at what else can be done to improve retirement readiness for all.

We view the U.S. Treasury yield spike as resolving a disconnect between the powerful restart and lower yields in recent months, and stay tactically pro-risk.

Market update from BlackRock's municipal bond team.

It's been a good year for U.S. stocks, but is the run nearing an end?

Real interest rates on Treasuries have been strongly negative throughout 2021. But why do investors keep piling into these negative “real” yielding assets? BlackRock’s systematic investment experts decode the markets to reveal why rates are so disconnected from fundamental values and what it means for your bond portfolio.

We stay tactically overweight European equities with two key events on the horizon: a European Central Bank (ECB) meeting and the German election.

During a trying time for the world in 1939, Winston Churchill famously described the largest country in the world and soon-to-be second superpower, the Soviet Union, as “a riddle wrapped in a mystery inside an enigma.”

Investing with the intent to do well while doing good is gaining traction.

Markets, and particularly cyclical stocks, have made great strides in the first six months of the year.

The pristine surface of a lake on a perfectly calm and sunny day is easy on the eyes. Yet it usually offers no insight as to what lies beneath.

Russ discusses why low vol and quality stocks are exhibiting surprisingly strong performance.

The investment opportunities are constantly changing as economic reopenings roll on.

Municipals posted another month of positive performance amid rangebound interest rates.

Over the past year, a surge of investors drove high-yield bond prices back to pre-pandemic levels.

In 1974, U.S. President Gerald Ford took office “amidst one of the worst economic crises in U.S. history,” which was characterized by double digit inflation.

“You can't always get what you want
But if you try sometimes, well, you might find
You get what you need”
“You Can’t Always Get What You Want,” The Rolling Stones (Let It Bleed, 1969)

Strategic rivalry between the U.S. and China is creating a bipolar world.

The switch on the U.S. economy is readying to come fully “on,” more than a year after the global pandemic forced abrupt closures around the world and across industries.

Markets have massively recovered from panic-driven lows last spring, and investors are now rightly contemplating if we have come too far too fast.

A powerful economic restart is underway in the U.S. – with Europe and emerging markets (EMs) set to follow.

A flexible bond strategy can deliver strong performance with low volatility by diversifying across global markets.

After an unprecedented year, investors can expect an equally unmatched economic and market recovery.

In 1974, U.S. President Gerald Ford took office “amidst one of the worst economic crises in U.S. history,” which was characterized by double digit inflation.

Some call the recent rotation from growth to value outperformance transitory. We believe it may have staying power, making value stocks a formidable complement to growth in a balanced equity portfolio.

Is it possible to travel in two directions at the same time? Imagine walking to the restroom at the back of an airplane while in mid-flight.

Covered call strategies can help investors manage short-term volatility and may provide better long-term outcomes while seeking to provide attractive monthly income to investors.

Russ discusses why gold has not been an effective hedge recently.

Read the latest model portfolio market insights to see where BlackRock’s Multi-Asset Income team see potential risks and opportunities across the landscape.

Retired participants may leave assets untouched well into retirement due to deep-seated fears that they may outlive their money.

The Queen’s Gambit miniseries helped propel Netflix to a winning earnings report last quarter, but in fact the chess strategy it is named after has helped propel chess players to winning games for decades.

BlackRock Global Allocation Fund portfolio manager Russ Koesterich explains why he expects volatility to drop -- and cyclicals outperform.

New virus variants are stoking COVID-19 angst, but we see vaccination programs opening the door to economic and market recoveries.

Recent volatility and high valuations underscore the need to be selective, but risk premiums still justify a moderately pro-risk stance, in our view.

Rick Rieder and team think that today’s potent policy cocktail holds important implications for the path of economic growth, markets and the value of a dollar.

Cyclically oriented value stocks could make a comeback in 2021, yet there’s still a place for durable growers in a balanced equity portfolio.

In this piece, BlackRock Global Allocation Fund portfolio manager Russ Koesterich discusses the implications of a rise in stock-bonds correlations.

Inflation will likely heat up in the coming months, but not to worrying levels.

Even after the remarkable market performance of 2020, we still see potential for continued growth in 2021.

In times of higher volatility, a multi-asset strategy can offer more consistent income, diversification and upside potential relative to bonds.

2021 market outlook from BlackRock's municipal bond team.

Rick Rieder and team describe how revolutionary changes taking place in corporate business models will impact investing for years.

Members of BlackRock Investment Institute recommend their favorite books of 2020.

Global Allocation Fund portfolio manager Russ Koesterich explains that consumers remain strong, though their focus keeps shifting.

Cash on the sidelines, pent-up demand and a vaccine in flight. Could it be the makings of a bullish 2021? Get our latest outlook for U.S. stocks.

The dynamics in this stage of the economy’s rebound look favorable for industries that are levered to the recovery but also offer stable business models and earnings consistency.

With much of the easy money already made, there’s no better time to think outside the box.

We highlight the reasons behind our pro-risk stance in our 2021 outlook in the weekly commentary.

Amid optimism for a COVID-19 vaccine and greater clarity around the U.S. election, Dr. Erin Xie, portfolio manager of the BlackRock Health Sciences Opportunities Fund, discusses two timely reasons to consider healthcare stocks.

Navigating short-term risks is paramount, but we view the backdrop as favorable for income investors over the medium term.

The new political landscape offers opportunities for investors who adapt their strategy.

Municipals posted modestly negative total returns in October, with the S&P Municipal Bond Index finishing the month down -0.14%. Interest rates moved higher as economic data remained firm...

The post-pandemic world is charging into change. Trends that were in play prior to the onslaught of COVID-19 have been accelerated, and many of the companies that were already leading the charge are emerging supercharged.

BlackRock bond experts reveal the top themes driving our fixed income outlook. Learn the latest key risks and opportunities in today’s bond market.

Technology is transforming the way we work. Asset managers are no exception as they seek better investment outcomes for clients.

What is impacting investing? How is it different from ESG? Equity investor Eric Rice answers these questions and more in this one-minute read.

Global Allocation Fund portfolio manager Russ Koesterich discusses the appeal of the middle area when choosing between growth versus value stocks.

Uncertainty around additional stimulus stirs up the market.

Despite the worst economic and health crisis in generations, U.S. consumers are defying the pessimists.

Markets are facing choppier waters, but the backdrop for risk assets remains positive.

The U.S. presidential election is adding to market angst. How much do politics matter in the long run? Tony DeSpirito answers in this one-minute read.

As portfolio manager Russ Koesterich discusses, negative real interest rates help explain why gold is moving more in tandem with stocks these days.

Market update from BlackRock's municipal bond team.

Rick Rieder and team highlight the critical facts that will drive the markets in the year ahead, as well as the myths that could mislead investors.

Impact investing in public equities can provide exposure to disruptive innovation and structural growth opportunities that are often overlooked.

Russ Koesterich, portfolio manager of the BlackRock Global Allocation Fund, explores what’s driving the continued strength of the U.S. consumer.

Even as markets were rocked by uncertainty as the coronavirus lockdowns began, the seeds of stability were sown in the massive fiscal and monetary policy response.

A vote for stocks. After solid summer gains came September volatility. The question now is what’s priced into markets as investors zero in on COVID-19 developments and the November election.

Compelling economic data and a dovish Fed drove risk assets higher in August.

Russ Koesterich, portfolio manager of the Global Allocation Fund, explains how history is not repeating itself with the recent sharp rise in tech stocks.

The coronavirus shock is accelerating structural trends in inequality, globalization, macro policy and sustainability. This is fundamentally reshaping the investment landscape and will be key to investor outcomes.

Markets may press even higher this year, but some areas may fall behind.

Market update from BlackRock's municipal bond team.

Bond yields are low, but investors’ need for income is high. In this one-minute read, Tony DeSpirito offers three reasons to look to equities for income.

With cyclical stocks rebounding, portfolio manager Russ Koesterich emphasizes that being discerning is key.

Unusual times require more than the usual sources of information to assess the investing backdrop. Jeff Shen discusses how alternative data is making a difference today.

In a post-coronavirus investment world, Jeff argues that investors should be rethinking the role of fixed income in portfolio construction and ask themselves if they are at risk of investing without a parachute?

Elga lays out two main reasons to be optimistic on Europe – and European assets.

Recent underperformance has led some to declare the death of value investing, but don’t be so quick to dismiss it.

Rick Rieder, Russ Brownback and Trevor Slaven contend that in the tug-of-war between the considerable economic damage stemming from the coronavirus and subsequent lockdowns, and the fiscal and monetary policy responses put in place, the latter factor is being underestimated by markets. Further, the instruments used by investors in previous years won’t be what’s required for the time ahead.

Get the ins and outs of green bonds in this two-part series. Let’s start with the basics.

Emily presents key takeaways on the exercise of green bond impact reporting.

Looking to generate income from your nest egg? Make sure you don’t get it all from just one basket. Karen explains two funds designed to provide income that aren’t over reliant on any one source.

What kind of role does private markets play in building a resilient portfolio in the post-Covid world? Mike explains.

Rick Rieder, Russ Brownback and Navin Saigal contend that if a negative monetary policy endgame is to be avoided, particularly in the face of recent economic declines, it will likely be technological advances of a profound kind that get us there.

Russ discusses why consumption has held up, and how the pandemic has accelerated long-term trends.

We have witnessed nothing short of a revolution in macroeconomic policy in recent months. Jean shares his take on what to focus on next.

As the economic fallout from COVID-19 threatens peoples’ livelihoods and erodes their short-term savings, it follows that their long-term financial security is also at-risk. What does it all mean for retirement savings and what steps can we take to build a more resilient system?

In 2020, many investors have shifted the focus of their fixed income portfolios from the return ON principal, to the return OF principal. Karen highlights how the desire for stability is driving investors to tap into U.S. Treasury markets with ETFs.

How’s China’s economic restart looking? And what does it mean for investors?

The pandemic has intensified existing stresses on U.S. state and municipal economies – with implications for investors.

Rick Rieder and Jacob Caplain contend that with profound uncertainties still present in the economy and markets, and the dislocations witnessed in many market segments in the past couple months, investors don’t need to resort to lower-quality assets. In fact, to achieve potentially attractive returns, higher-quality spread assets can serve quite well.

How has the coronavirus shock changed medium-term fundamentals? And how does that change our long-term asset views?

Russ highlights the surprising resilience of technology stocks this year.

Rick Rieder, Russ Brownback and Trevor Slaven contend that even as markets were rocked by uncertainty as the coronavirus lockdowns began, the seeds of stability were sown in the massive fiscal and monetary policy response. The key is to know how to manage through this period for the long haul.

Ben Powell writes that China may change policy at the delayed National People’s Congress in three key areas: the GDP target, household registration reform, and – crucially for markets – fiscal stimulus.

Ben Powell writes that China may change policy at the delayed National People’s Congress in three key areas: the GDP target, household registration reform, and – crucially for markets – fiscal stimulus.

Russ explains why Chinese equities should still be a core holding.

David Rogal and Bob Miller contend that the TIPS market dislocations witnessed in recent months have resulted in opportunities that investors would be remiss to ignore.

Vivek explains why we see a need and opportunity to adjust strategic portfolios in the wake of the pandemic.

The global coronavirus outbreak has changed everyday life in profound ways ― and will likely reshape the future as well. Tony DeSpirito identifies five areas of change that could have implications for investors.

How do we gauge the impact on global economy from the pandemic? Jean shares his thoughts.

Russ discusses the surprising strength in momentum stocks, and why it may continue.

Scott explains why we have downgraded emerging market local debt to neutral even as its valuation has cheapened.

As Russ explains, bonds may not be providing significant income, but still offer a hedge against equity risk.

Closed-end funds are currently trading at a discount as equity markets have dropped. Here’s where to spot opportunities.

It’s easy to get sidetracked by the ups and downs of the market, but before you act, now may be a good time to review why you own bonds in the first place.

We favor U.S. stocks to their other developed market peers over the next six to 12 months. Why? The U.S. policy response to the coronavirus shock has been decisive and comprehensive, and has exceeded the scale of policy action in other major developed economies. We expect more to come.

Rick Rieder, Russ Brownback and Trevor Slaven contend that even as markets are gripped with the trauma of wild swings, and continued uncertainties, the seeds of future investment opportunity are being sown.

These are unusual times, to say the least. Few in the financial industry have seen a global pandemic and widespread economic shutdown, and we must approach our outlooks with a dose of humility.

Scott explains how the extraordinary outbreak-fighting policy action – and recent market turbulence – has changed our view on credit.

Minimum volatility strategies are one way to seek more equity stability, which may help investors stay in the markets over the long run.

The coronavirus crisis will change the world in many ways. Tony DeSpirito discusses its potential impact on ESG investing and how it may hasten an important trend for active investors.

Russ discusses the importance of keeping perspective as we face an unprecedented crisis.

Financial markets, and the world, are in unprecedented times. Tony DeSpirito offers some perspective along with ideas for preparing for the eventual return to “normal".

Mike explains why it may be prudent re-balancing your portfolio – outside the usual calendar – after the recent market turbulence.

BlackRock’s CIO of Global Fixed Income and Head of the Global Allocation Team weighs in on recent Federal Reserve policy moves and what they might mean for markets.

Municipal closed-end funds (“CEFs”) currently offer high levels of tax advantaged income and can often be purchased at a discount to their current net asset value.

A déjà vu of 2008 in markets lately? Mike explains why we think the coronavirus shock should not spark a 2008-style crisis.

Russ discusses the reasons why gold can be an effective hedge going forward.

Corrections are normal but that doesn't mean they feel good. How to get comfortable with being uncomfortable.

A decisive and coordinated policy action is key to combat the economic fallout from the coronavirus outbreak. Mike explains why.

Emerging markets give many investors cold feet. On our latest podcast, EM equity pro Gordon Fraser discusses whether now may be time to warm up to the elusive asset class.

Mike shares how we are updating views on global growth and asset allocation as the coronavirus spreads across the world.

The coronavirus outbreak has altered market dynamics since late January – including in the space of equity style factors. One example, Quality has posted more muted gains after strong outperformance in late 2019. We stand by our tactical views on factors for now, including a modest overweight on quality.

Technology shares are once again leaving everything else in the dust. Year-to-date, the MSCI Information Technology sector, led by U.S. tech, is beating the broader market by over 5% and is ahead of laggards, notably energy, by nearly 20%.

Mike explains how our global outlook has evolved with the developing coronavirus outbreak.

Which is better: growth or value? It’s an age-old investor question. Tony DeSpirito discusses its modern-day implications in a world of widespread disruption.

Catherine explains the economic and political constraints leaders face in responding to the recent wave of global protests.

As Russ explains, bond yields may be low, but are still critical as an insurance policy against equity risk.

The coronavirus outbreak that started in China has sent jitters across global financial markets amid fears of a hit to the global economy. We think it is too early to assess the eventual impact on the economy yet see potential downside risks posed by the outbreak – with its unknown magnitude and duration. This underpins our view that U.S. Treasuries provide a source of portfolio resilience.

Russ discusses the catalysts favoring Emerging Markets, beginning with the Federal Reserve.

Rick Rieder, Russ Brownback and Trevor Slaven contend that eight major market influences are likely to dominate the investment environment in the year ahead and that the proper portfolio mix will be instrumental in delivering a successful outcome.

After an astounding 2019, what’s in store for 2020? Russ discusses.

‘Tis the season for holiday reading. Jean shares our top picks to take you through the new year.

Rick Rieder and Russ Brownback argue that contrary to the many year-end outlooks foreseeing either a recession or a rebound in 2020, the most likely path for the economy and markets is more moderate, which can be encapsulated in their theme of “1.8.”

We expect to see flows back into UK equity and credit now that some of the Brexit uncertainty has been removed.

Jean highlights some key takeaways that may help you with next year’s investment decisions.

Positive returns across asset classes in 2019 may limit tax loss selling in closed-end funds, but we see potential long term value in select sectors where investors can still buy assets at a discount.

We identified the protectionist push as a key market driver this year but we did not foresee the massive move down in global yields. Scott talks through our 2019 calls.

As Russ explains, the evolution of the consumer, still a pillar of the markets, has major implications for investors.

Redefining your lens on risk may help you win more by losing less.

Rick Rieder and Russ Brownback argue that – in contrast to the past decade of monetary policy lifting all economic boats at once – the years ahead are likely to be characterized by great dispersion between economies, industries and markets. Understanding that dynamic will be the name of the game for investment success.

Markets hate uncertainty, and the type deriving from geopolitical unrest has been heightened this year. Jeff Shen discusses why there may be a silver lining on the horizon for investors.

Russ explains why monetary easing matters more than geopolitical risks for the markets right now.

It’s been a largely solid run for U.S. stocks in 2019. With the year now in its final quarter, Tony DeSpirito addresses three questions on investors’ minds.

Rick Rieder, Russ Brownback and Trevor Slaven contend that much of the recent criticism brought to bear against Fed policy makers is misguided, and in fact the central bank has done an admirable job of pivoting toward a pragmatic equilibrium in recent months.

Recent data show a slowing economy, but no recession. Russ discusses how to position a portfolio in this environment.

Once again, U.S. consumers are keeping the global economy out of the abyss. Russ discusses why.

Covered call strategies in a closed-end fund may help long-term investors manage short-term volatility.

The fourth quarter of 2019 kicked off with a market selloff and more evidence that a protectionist push is hitting the U.S. industrial sector. How are our asset views faring this year to date–and what are the key themes we see shaping markets in the months ahead?

Elga explains why we see a growth pickup looming on the horizon. Hint: Watch the transmission of financial conditions.

Rick Rieder and Russ Brownback highlight their view that effective monetary and fiscal policy in the 21st Century needs to draw not only traditional economic theory, but also from the lessons of finance and other disciplines.

Patrick Nolan offers his top tips to help your money deliver.

Interest rates rose last week, but the surge did not keep stocks from climbing. Russ explains why.

Elga explains why we could see lower growth and higher inflation ahead in the U.S. Hint: trade tensions.

Russ describes the reasons why growth stocks can still outperform value.

Easier financial conditions have lessened the blow of greater political uncertainty. Can that continue?

Rick Rieder highlights the economic policy state-of-play today, and where it may lead to should economic growth falter, productivity not materialize, and populism continue to thrive.

In some parts of the world, bonds are yielding less than zero. Karen explains how that can happen, what it means for your portfolio and moves to consider.

With the dollar remaining strong, Chris discusses whether it makes sense to hedge currencies for international investing.

“Quality” stocks are said to offer a measure of portfolio stability ― a trait that becomes more valuable when markets are volatile and/or the business cycle is growing older. Both are true today. Tony DeSpirito offers his take on investing for quality.

Given the recent volatility, investors may be wary of tech. Not so fast, Russ explains.

Russ discusses why bonds are his preferred hedge in this environment.

Rick Rieder and Russ Brownback highlight the investment themes that they think will drive markets and dominate debate within the investment community over the next several months and beyond.

Russ discusses how central banks once again have investors’ backs.

Rick Rieder argues that anemic growth in Europe is a longstanding problem that today requires a bold solution. Institutionally, the ECB can offer potentially effective, if unconventional, help.

Following months of strong performance, Russ discusses why defensive sectors may be overpriced in the current environment.

Despite structural regional challenges, Russ provides insight on several factors that support European equities.

Rick Rieder and Russ Brownback argue that while most investors are focusing primarily on trade-related supply chain disruptions today, they need to continue to situate this turmoil in the more fundamental changes at play in technology and demographic trends.

Russ explains why the suddenly easier central bank policies could be key for emerging markets.

Low inflation may sound appealing, but as Russ explains, it has drawbacks for investors.

With stocks on a rollercoaster ride this year, Russ discusses the various potential hedges that could smooth the ride.

The firm’s senior decision makers debated the midyear market outlook last week in London. Jean shares the gist of our debates.

Russ discusses why growth is likely to continue to outperform value for a while.

Rick Rieder and Russ Brownback argue that there’s little benefit to “trading the news” today, as prices adjust instantly to highly-transparent information. Rather, investors would do well to follow long-term cash flows, of which the lion’s share is to be found in tech.

Markets are not too expensive, or too cheap. As Russ explains, that offers a clue into what could cause the next move.

Russ discusses why volatility has not been more severe, even though growth has softened.

Continuing the post-crisis trend, U.S. stocks have outperformed the rest of the world this year. Russ explains why.

Cyclicals rule. After getting trounced in Q4, year-to-date more cyclically oriented stocks and sectors have trounced “defensive”, less-cyclically exposed names. The trend has been even more pronounced during the past month.

Despite being up 25% from December 2018 lows, Russ discusses the factors that remain supportive of the energy sector.

Rick Rieder and Russ Brownback argue that despite the market turbulence witnessed in the past several months, as well as a dramatic policy reversal, we find ourselves at a moment of remarkable economic stability. That fact, along with greater policy accommodation and capacity, argues for healthy and sensible risk taking.

With growth soft, financial conditions are key for investors, Russ explains.

Russ discusses the divergence between rising stock prices and falling bond yields. What gives and can it continue?

The recent U.S. equity rally has coincided with a drop in volatility. But can that continue? Russ discusses.

Rick Rieder and Russ Brownback argue that as the conventional wisdom in policy and investment circles surrounding prospects for growth and inflation have shifted in 2019, so too have investment opportunities.

Russ explains the mystery of why gold is performing surprisingly well while stocks are rallying.

It’s not just stocks: bonds and commodities are up this year as well. Russ discusses whether than can continue.

Recent volatility has created opportunities to invest in high yielding leveraged credit closed-end funds trading at a discount to net asset value.

Russ discusses why energy, despite rallying – and outperforming -- this year, still looks like a value.

Markets have bounced back from December’s selloff. Russ discusses whether investors have shifted sentiment too quickly.

Rick Rieder and Russ Brownback argue that an evolving policy stance at the Fed is altering the risk/reward calculus for investors this year, although left-tail risks remain.

Russ discusses why the dollar has stabilized and what it means for markets.

After December’s rout, are stocks now reasonably valued? Russ’ answer may surprise you.

Rick Rieder argues that the Fed’s price stability mandate has been fulfilled and that today’s drivers of inflation…

Your employer works behind the scenes to review and improve your retirement plan. But are you getting the benefit of their latest and greatest? Paul talks about how to use your employer’s recommendations to evaluate your own plan.

Rick Rieder and Russ Brownback argue that slowing growth, peaking inflation and tightening financial conditions combine to make a strong case for a Fed policy rate hiking pause in early 2019.

It may seem like a poor environment for EM stocks, but they outperformed in the recent volatility. Russ explains why.

A collection of insights our Portfolio Solutions team gathered from working with thousands of advisors on close to ten thousand investment models in the past twelve months.

There are few signs of a recession, but slowing growth is having an impact. Russ explains why and what steps to take.

Unless oil prices collapse, energy stocks now appear to be cheap, as Russ explains.

After the October selloff, stocks got cheaper. But that might not be enough for a continued rebound, Russ suggests.

Contrary to conventional wisdom, Rieder argues that wage growth doesn’t lead to higher inflation, and in fact may even hold a dampening impact on inflation over time, which has important implications for how to judge monetary policy today.

Russ discusses why gold, not a popular asset class until recently, has become so as a hedge.

Rieder and Brownback argue that monetary policy restrictiveness, fading fiscal stimulus, and growing economic uncertainties leave markets more vulnerable today, and these risks are not to be toyed with.

Credit markets are still relatively supportive of stocks, but at the margins, less so. Russ discusses the implications.

Russ takes a look at whether stocks and bonds will move in sync again and what to do if they will.

Rieder and Brownback argue that today investors are confronted by massive shifts in the nature of the economy, alongside cyclical and policy uncertainties; making sense of it all is critically important.

Investors may be ready to abandon emerging markets, but as Russ discusses, the potential is there for a sizeable rebound.

While momentum stocks have prevailed since 2016, is quality about to have its day? Possibly, if volatility continues to rise, as Russ discusses.

As Russ discusses, we remain in a strong dollar environment, which continues to have consequences for the market.

In a future of lower expected price appreciation, investors should focus on the second leg of returns: income. ETFs make it incredibly easy to capture diversified sources of higher-yielding assets.

As yields increase, short-maturity bond funds can offer both higher income potential and a cushion against interest rate risk. Karen explains the mechanics, in part three of her Rising Rates series.

The flattening Treasury yield curve is getting a lot of attention, but there’s another flattening that is arguably of greater importance: the narrowing return gap between low- and high-risk assets. Jeff explains.

Data shows a solid economy, yet markets are acting like recession is around the corner. Russ explains why.

As Russ notes, in a world with few bargains, one stands out: Asia.

As Russ explains, dismal performance of emerging markets this year has make them look like a bargain again.

Value continues to look cheap, however predicting when it will begin to outperform is challenging. Russ suggests one potential catalyst: an unexpected acceleration in nominal economic growth.

Rieder and Brownback argue that as we depart the era of QE, where rising tides lifted all boats, the income component of total return becomes ever more vital to investor prospects.

Russ describes the signs that gold, notoriously difficult to assess, is starting to look cheap.

As Russ explains the key to asset returns in the first half of 2018 was the dollar, not interest rates.

Russ discusses why the energy sector still looks attractive, despite having struggled recently.

Russ discusses why economic conditions (for now) support low volatility in the markets.

Russ discusses why tech stocks are not only not in a bubble, but reasonably valued.

Rieder and Brownback argue that today’s investment environment, like a well-fought chess match, holds great complexity; understanding it is vital for investors.

Russ explains why gold is not working as an effective equity hedge, despite higher volatility.

Is the era of easy financial conditions over? Not yet, says Russ.

Emerging market stocks and bonds are having a rough year, but Russ argues against abandoning the asset class.

Earnings are strong, markets less so. As Russ explains, investors are paying attention to valuations and the economy.

For most of the post-crisis period, defensive stocks have been expensive. Russ suggests that may have changed.

The 3% U.S. 10-year government bond yield isn’t the right yield to focus on. Richard explains why.

Rieder and Brownback discuss how cyclical turning points result in market friction, even with solid growth, presenting the Fed with two potential paths.

Prospects for a trade war are having an impact on markets, but for bargain hunters, stocks are still expensive. Russ suggests looking outside the U.S.

Many are pointing a finger at Washington for the recent spike in volatility. But, as Russ explains, the catalysts lie elsewhere.

Russ discusses why stocks can still thrive when consumers are confident, but frugal.

Rick and Russ on the new volatility regime, why risk is being misapprehended, and how to navigate these new challenges.

Markets are a function of reality meeting expectations. Russ discusses why the expectations are outpacing the reality.

Russ discusses why investors should worry less about higher interest rates and more about the volatility resulting from tighter financial conditions.

Markets have calmed somewhat, but make no mistake: Volatility is back. Russ discusses quality stocks can help in this environment.

Think rising interest rates and higher stock prices are like oil and water? Think again, says Russ, at least for the time being.

Russ reviews the landscape after the selloff and discusses how little has actually changed.

As the recent market volatility made clear, there’s a big difference between plain vanilla ETFs and leveraged products making big bets with big risks.

Russ discusses why the case for emerging market stocks right now simply rests on concept of solid global growth.

Rick and Russ argue that the recently enacted U.S. tax cut and an evolving monetary policy backdrop provides both greater clarity on expected increases in volatility and underscores the need to remain flexible and opportunistic in allocation.

Amid the seemingly endless noise that poses as news, Rick Rieder and Russ Brownback focus in on three of the most critical themes that investors need to consider for 2018.

Russ discusses why the real economy and financial market conditions offer more clues about volatility than political noise.

Can markets repeat the outstanding performance of 2017? Russ discusses why credit market conditions are likely to provide the key clues.

Rick Rieder and Russ Brownback examine the more volatile cyclical dynamics we’re likely to encounter in 2018, even as the secular risk-asset bull market remains in place.

Long-term interest rates remain stuck in a range that has defined the last six years. Russ discusses why 2018 may see more of the same.

Wondering how style factors work and how to use them? The five Ws tell the story of the value, momentum, quality, size and minimum volatility factors.

Rick and Jacob examine why 2017 provides a seemingly unlikely source of evidence for the effectiveness of an active approach to fixed income.

Value stocks are cheap, relative to growth, but have lacked a catalyst to rally. Russ discusses why tax cuts could be that spark.

Gold has performed surprisingly well this year. Russ discusses why that might not be the case going forward, and it may be time to pare positions.

Stocks are expensive by most measures. Russ discusses why the bond market can impact whether that can be sustained.

Interest rates are set to move higher, but as Russ explains, we are still a long ways away from the long-term average of 6% 10-year Treasury yields.

High yield bonds have been investor favorite the last year and a half. Russ discusses why that may not last.

Rick Rieder and Russ Brownback argue that while cramming for finals may have worked in college, it won’t with the winding down of the global central bank policy liquidity “semester.”

Quality stocks may be out of favor in this environment, but Russ explains the important role they can play in a portfolio.

Value stocks have started to show signs of life. Russ discusses why energy and financial stocks are currently the best ways to play the theme.

A downturn for stocks may not be top of mind these days, but one will happen eventually. To prepare for that, Russ discusses why the source of the selloff matters as much as the magnitude.

Russ discusses the reasons why Japan’s equity market may outperform emerging markets.

Consumer spending helps fuel the economy, but, as Russ explains, still sluggish spending continues to limit growth.

Rick Rieder and Russ Brownback, from the BlackRock Fundamental Fixed Income Team, look to the investment lessons that can be derived from Super Bowl 51 odds making, and particularly that when judged appropriately, prices can contain more valuable information than does “the news.”

What might the German election mean for markets?

With the top two positions at the Federal Reserve soon to be open, Russ discusses how the easy money era goes back a long way.

Rick Rieder explains the economic implications of “the Amazon effect.”

Russ explores why both risky assets and traditional safe havens have performed well this year, and whether that can continue.

Value stocks have largely sat out the broader market rallies this year. Russ explains why, and what could spark a return to investor favor.

We believe biotech's long-term historical drivers, demographics and mergers and acquisitions (M&A) activity to secure patent protected drugs, may outlast near-term political headwinds and should lead investors to consider bio-pharma from a longer-term perspective. Biotech valuations also currently appear attractive relative to the broader market and look less crowded than other growth sectors. Over the short term we see potential opportunities in select individual biotech and pharma names.

Russ discusses the trend behind the surprising gold rally this year, and why the political drama in D.C. means it may continue.

We see three factors that potentially support Japanese equities going forward: 1. Improving earnings outlook amid a strengthening domestic economy and synchronized global expansion. 2. Currently attractive equity valuations compared to developed market peers. 3. Continued monetary stimulus from the Bank of Japan and a potentially stable yen.

Whatever happened to the increase in interest rates that was supposed to occur? Russ explains.

Rick explains what many interpreters of inflation data are missing.

Russ discusses an enigma: Stocks continue to climb higher and volatility is at all-time lows while disarray reigns in Washington.

Several myths have taken hold among market watchers lately. Rick seeks to dispel them.

High yield is not responding to the fall in oil prices like it’s 2016. Russ talks why the pain point is lower today than 18 months ago.

Russ explains why investors should pay more attention to the stock-bond correlation coefficient and understand its impact on investment portfolios.

It’s easy to fixate on headline inflation numbers that appear disappointing, but Rick explains why there’s more to the data than meets the eye.

Should soft commodity prices portend slowing growth and concern investors?

Russ discusses why momentum, which has thrashed value this year, could struggle in the second half.

Stocks are getting expensive by traditional measures. Russ takes a look at what history tells us about what could happen next.

In my many conversations with investors and industry peers about factor investing, one topic seems to always come up: factor investing timing. I’ve had recent discussions on this topic with a central bank whose managers need to think about preserving capital and with a more nimble RIA team which explicitly wants to use timing to pursue incremental returns.

Rick Rieder explains the under-appreciated negative economic side effects of today’s student loan levels, with the help of three charts.

Rick provides his take on the Fed’s most recent rate hike and makes the case against an overly rigid view of price change.

Russ discusses why many technology stocks have tumbled recently, without any obvious reason.

Russ explains the different circumstances that have pushed the U.S. dollar downward and what the recent retreat means for your investments.

With political uncertainty on the rise in D.C., will market volatility spike? Russ discusses why the economy and credit markets matter more.

Russ talks about why bond yields remain low this year, despite expectations of a rise.

Mother’s Day is a good day to celebrate the moms in your life—and prepare for retirement. Anne explains.

Fixed income investing today is very different from several years ago, but this doesn’t mean there aren’t opportunities for generating returns. Rick explains.

Russ discusses the important trends that emerged from a compelling conference of finance, business and political leaders.

With risks abounding in the markets, Russ discusses the case for health care as a defensive sector.

The “reflation trade” that began in late 2016 has lost steam. Russ discusses what comes next.

What does weaker-than-expected March jobs growth mean for the path of rate normalization? Rick Rieder weighs in.

Small cap stocks are faltering this year. Russ describes why and whether that will continue.

Volatility is creeping back into the markets. Russ discusses why that holds some peril for momentum stocks.

With two more Fed hikes potentially on the horizon in 2017, Rick clears up a few wrong assumptions some market watchers are making about rate normalization.

Although the value of a currency can impact your international holdings, Russ talks about when it makes sense to hedge that effect.

Rick shares two reasons why we see abundant fixed income opportunities.

Financial stocks have been rallying on the expectations of higher interest rates and less regulation. Russ discusses whether the good news has already been priced in.

While most investors focus on potential returns in their portfolios, Russ discusses why risk and correlation are just as important.

The rally in value stocks may have stalled, but Russ discusses why the trend still has further to go.

Rick Rieder shares three reasons why a March Fed rate increase is a possibility.

Volatility is low, but political uncertainty is high. Russ discusses what is causing this and whether it can continue.

Russ discusses the signs that inflation is rising faster than many expect, and what that means for your portfolio.

With U.S. stocks rallying, investors may be tempted to stick with a home country bias. Russ discusses why Japan is still worth a look.

Rick explains why there's a good chance U.S. growth will pick up from 2016.

Investors have been bidding up stocks in anticipation of policy shifts by the new administration. Russ discusses the policy that matters most to investors.

Stock markets have been very quiet lately, but as we get ready to enter 2017, things may change. Here's why.

Russ discusses four reasons why the rebound in inflation is likely to continue.

With the Federal Reserve back in the spotlight, Rick Rieder discusses what investors should be focused on in 2017.

Stocks have been helped by low rates and inflation. Russ suggests that may be changing.

Rick Rieder makes the case for a policy that is bolder than what the ECB had announced last week.

Russ describes what has driven the small cap rally, and explains why its days may be numbered.

Russ explains why the post-election selloff in bonds may be a longer-term, not temporary, phenomenon.

Bonds sold off after Donald Trump's surprise election win. What could the election results mean for bond markets over the long term? Rick Rieder weighs in.

In the post-election markets, investors are preparing for the potential for higher growth—and inflation. Russ discusses the implications for investors.

Rick Rieder talks about the improving wage growth and a tight jobs market having a possible impact on the Federal Reserve's rate hike decision in December.

The BlackRock Investment Institute shares the implications of Donald Trump's unexpected election win.

As 2016 draws to a close and a Fed hike looms, where should investors hunt for yield now? Terry highlights the case for three income-yielding asset classes.

Gold has rallied recently with the return of political uncertainty. But Russ points to another factor that suggests the gains can continue: inflation.

International stocks have started to outperform U.S. stocks. Russ explains what's behind the comeback and why it may continue.

Often, high levels of cash in investors' portfolios represent excessive caution. Russ explains why this time is different.

Despite underperforming recently, high yielding defensive stocks are still expensive. Russ sees better value elsewhere, namely technology.

Rick Rieder explains the multiple ways the U.S. economy is moving on two tracks, and what this means for monetary policy.

Historically low bond yields have helped boost stocks in recent years. Russ discusses why this may no longer be enough.