BlackRock, UBS Go Risk-On With Trade Angst Evaporating in Stocks
- China-exposed shares have almost recovered lost ground in U.S.
- ‘Peak tariffs’ seen setting stage for better economic growth
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Count BlackRock Inc. and UBS Group AG among those turning more bullish after the U.S. and China agreed on a phase-one trade deal.
BlackRock Investment Institute’s strategists led by Mike Pyle just reversed a cautious stance that had been in place since the middle of this year, urging clients to raise holdings in assets poised to benefit from a pickup in growth, such as emerging markets and Japanese stocks. Meanwhile, Mark Haefele, global chief investment officer at UBS’s wealth management unit, and his team are adding to equities after the trade pact.