Stock Groups

BlackRock says upgrading stocks, downgrading credit amid Ukraine conflict -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: A showroom hosts BlackRock in Davos. January 22, 2020. REUTERS/Arnd Wiegmann

NEW YORK, (Reuters) –BlackRock has upgraded its position in the developed market and downgraded credit. It said it saw “greater clarity about the Ukraine conflict” and that there was a lower risk of central banks putting the brakes on inflation.

In a Monday research note, managers and strategists at the world’s biggest asset manager said that “We now understand what we are dealing in: a prolonged stand-off among Russia and the West.” A spokesperson sent the memo to them.

We also believe it reduces the likelihood of central banks applying the brakes in an effort to control inflation.

The expectation of investors raising interest rates has “become excessive”, opening up opportunities in equity, they stated.

The market volatility increased after Russia invaded Ukraine last week. Last week, the benchmark stock market index was more than 10% lower than the Jan. 3, record closing high. It is now in correction.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]