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