In summary from a piece from BlackRock:
- The Russian invasion of Ukraine is a human tragedy. We now know what we are dealing with: a protracted stand off between Russia and the West. We also think it has reduced the risk of central banks slamming the brakes to contain inflation.We are tactically upgrading developed market (DM) stocks as a result.
- We believe market expectations of rate hikes have become excessive and have created opportunities in equities. We downgrade credit, preferring to take risk in equities.
BlackRock is the world's largest asset manager, circa $9 trillion in assets under management (as of June 2021).
