We have largely maintained our assumptions for equity returns while increasing those for fixed income.
Richard Turnill, BlackRock’s Global Chief Investment Strategist, gives us the week in review. Turnhill was previously Chief Investment Strategist for BlackRock’s fixed income and active equity businesses, and has also led the Global Equity investment team. Read an excerpt of his weekly commentary below, or view the entire weekly investment commentary here.Key Points:
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Our updated five-year return outlook supports our preference for equities over bonds in a U.S.-led reflationary environment.
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Global risk assets rallied last week, led by emerging markets. U.S. equity indexes hit record highs on upbeat earnings.
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Ratios of earnings upgrades to downgrades in Europe and Japan offer encouraging signs ahead of this week’s earnings reports.
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