Investment Commentary
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Weekly Investment Commentary
Bull Market Remains in Place; Stocks Should "Grind Higher"
U.S. market summary for week of November 16, 2009:
Improving economic conditions have helped produce an eight-month bull market. Looking ahead, BlackRock Vice Chairman and Global CIO of Equities Bob Doll believes that stock advances will continue, but that gains will be more selective.
Municipal Markets Investment Commentary
Muni Rally Takes a Breather
November 2009
The municipal markets' months-long rally took a breather in October as prices declined and yields increased. The reversal can be attributed to a slowdown in mutual fund inflows, increased supply and a dealer community beginning to enter year-end mode. BlackRock's Municipal Bond Management Committee maintains a favorable outlook and believes the current low-yield environment supports the case for some risk-taking further out on the curve and in lower-rated, higher-yielding credits.
Moving Forward, Guided by History
Point of View With Tom Callan
October 2009
Now one year past the pinnacle of the credit crisis, Managing Director and senior portfolio manager Tom Callan describes how studying market history helped guide him and his team through the crisis and how history may provide some context for what to expect from the global economy and financial markets going forward.
Opportunities in International Fixed Income
Point of View With Andrew Gordon
October 2009
Having exposure to non-US bond markets and foreign currencies provides important diversification benefits, particularly in the event that US assets and the US dollar come under pressure. In this Point of View, Managing Director and portfolio manager Andrew Gordon discusses the "dollar crisis" scenario and offers insight on opportunities in international fixed income.
BlackRock Investment Directions
Fourth Quarter 2009
In BlackRock's newest quarterly investment commentary, Bob Doll, BlackRock Vice Chairman and Global Chief Investment Officer of Equities and Curtis Arledge, Managing Director and Co-head of the US Fixed Income Portfolio Management Group provide asset allocation ideas, discuss favored sectors of the marketplace and indicate where they believe investors can find the best opportunities in today's markets.
Fixed Income Market Commentary
Rally in Risk Assets Continues
November 2009
All fixed income sectors once again outperformed Treasuries in October as the general rally in risk assets continued. At present, Curtis Arledge, co-head of US Fixed Income, sees high-quality securitized assets, particularly high-quality CMBS, as offering the most attractive opportunities in the current environment.
Point of View on Value With Kevin Rendino
July 2009
US stock prices, after falling sharply in the recession-mired bear market, are now said to represent unique value. Self-described contrarian investor Kevin Rendino, lead portfolio manager of the BlackRock Basic Value Fund, believes today represents a tremendous opportunity for value investors, but acknowledges that isolating the winners will require a long-term perspective, focus on fundamental analysis and patience.
Point of View with BlackRock TIPS Team
Why TIPS, Why Now?
June 2009
Today, amid the most severe economic recession in generations, inflation is not top of mind for most investors. Yet, inflation is sure to rear its head?potentially in a big way?in the future. According to Stuart Spodek, Brian Weinstein and Adam Bowman, members of the BlackRock Inflation Protected Bond Fund team, Treasury Inflation Protected Securities (TIPS) offer important insurance against future inflation, and also serve as a useful diversification tool in any fixed income portfolio.
This material is provided as an educational tool. BlackRock cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided in these publications or from any other source mentioned.