BlackRock Says There Won't Be a U.S. Recession, Cut Treasuries
- Investors should be `underweight' Treasuries, Turnill says
- Sumitomo Mitsui Trust sees quickening U.S. inflation
Morning Meeting: Global Recession Prospects
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BlackRock Inc., the world’s largest money manager, says investors should pare their Treasury holdings because the U.S. will avoid a recession.
“Economic indicators this week may show the U.S. economy experienced a mild slowdown but is not headed for a recession,” Richard Turnill, the global chief investment strategist, wrote in a report Monday on the company’s website. Investors should have an “underweight” position in Treasuries, according to the report. New York-based BlackRock manages $4.6 trillion.