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BlackRock’s Midyear 2018 Global Investment Outlook: Rising trade tensions and macro uncertainty

BlackRock’s 2018 investment themes have been refreshed against a backdrop of steady global growth and strong corporate earnings, but rising trade tensions and macroeconomic uncertainty.

  • Cassandra Cook

BlackRock’s 2018 investment themes have been refreshed against a backdrop of steady global growth and strong corporate earnings, but rising macroeconomic uncertainty. The updated market outlook highlights key debates from BlackRock’s recent Outlook Forum, such as the implications of trade tensions.

Setting the scene

BlackRock’s market outlook base case sees strong U.S. growth extending positive spillover effects to the rest of the world, sustaining the global economic expansion. However, overall market sentiment has turned cautious in 2018 as macro uncertainty grows, and this change in market mood has led to muted or negative returns.

BlackRock remains pro-risk but has tempered that stance given the uneasy equilibrium between rising macro uncertainty and strong earnings.

Additional topics covered include growth outcomes, tighter financial conditions, global trade risks, European fragmentation, product-specific, etc.

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This material represents an assessment of the market environment as of the date indicated; is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding any security in particular. Investing involves risk, including possible loss of principle. Prepared by BlackRock Investments, LLC.

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