BlackRock’s Bond Expert Tells You Where Not To Put Your Money Now

BlackRock's Bond Expert Tells You Where Not To Put Your Money Now

A sign for BlackRock Inc hangs above their building in New York City.

Lucas Jackson | Reuters

In light of the pace of Covid-19 vaccine deployments and the potentially heavy fiscal stimulus in the United States, the BlackRock Investment Institute is opting for a more risk-based approach in 2021.

The U.S. investment house announced Monday that it had downgraded government bonds to underweight and credit to neutrality, while revaluing stocks. “Underweighting” means holding less assets than benchmarks, which implies the belief that the asset will underperform.

Rising inflation expectations have pushed the benchmark 10-year US Treasury yield higher in recent weeks, causing the stock market resurgence to pull back as investors questioned whether unprecedented levels of bank stimulus power plants could be …

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