Chief Executive of BlackRock Larry Fink spoke on Wednesday (US time):
- "I see a lot of dark shadows"
- "The markets are probably ahead of themselves"
- U.S. economy is in the middle of a slowdown
- Financial markets could see a significant setback
- Cites uncertainty over global trade and the Trump administration's plan to cut taxes
More:
- Trade disruptions a possibility
- US 10-yr yield could fall below 2%
- ... or rise above 4%
- But says the greater possibility is of rates falling
- Thinks the Fed hikes in June & possibly once more this year
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BlackRock is a huge fund manager, the firm manages $5.1 trillion in assets