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☆ Hedge funds are selling stocks at the fastest pace in three months and stepping up short bets
▼ + stars: | 2024-04-09 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Hedge funds are dumping stocks at the fastest pace in three months as what's often called " the smart money " stepped up bearish wagers against equities amid the recent pullback. The professionals sold global stocks on a net basis for a second straight week last week, driven almost entirely by short sales, according to Goldman Sachs' prime brokerage data. It marked the biggest selling week for hedge funds since mid-January, the data showed. Its hedge fund clients sold stocks for a fifth consecutive week last week, exiting shares across small-, mid- and large-cap companies. The S & P 500 declined nearly 1%, its biggest weekly loss since early January, although the equity benchmark is still only 1.7% below its record high.

Persons: Goldman Sachs, David Bahnsen, Goldman, Jean Boivin, — CNBC's Michael Bloom Organizations: Bank of, Dow, Bahnsen Group, P Retail, Traders, Fed, BlackRock Investment Institute Locations: U.S

☆ Sports investing has taken off, but the biggest prize in the industry remains almost untouchable
▼ + stars: | 2024-01-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. 3 things in marketsJim Esposito, Goldman Sachs' head of global markets and banking, is set to retire from the bank, the firm said Monday. Jim Esposito is leaving Goldman Sachs after nearly 30 years. While he didn't share his next move, he told peers he'd "bleed Goldman Sachs forever." Goldman Sachs says rate cuts need to be on the menu in March.

Persons: —, Brooks Koepka, Rory McIlroy, Keyur Khamar, Marc Lasry, Steve Cohen, Aaron Mok, LeBron James, — Arthur Blank, Gerry Cardinale, Goldman Sachs, who's, Lasry, Cohen, Point72, it's, Patrick Smith, Peacock, David Tepper, Jim Esposito, We've, he'd, Jean Boivin, David Mericle, NurPhoto, Getty, Javier Zayas, Kevin Winter, Tyler Le, Critics, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, Costco, Getty, PGA Tour, Fenway Sports Group, NFL's Atlanta Falcons, Capital Group, Milwaukee Bucks, New York Mets, NFL, Denver Broncos, Washington, Washington Post, Kansas City Chiefs, San Francisco 49ers, Carolina Panthers, BlackRock, Spotify, Apple, Google, Entertainment, Netflix, Studios, HBO, Disney, Walmart, Microsoft, Business Locations: Vegas, BlackRock, New York, London

☆ BlackRock upgrades U.S. stocks to overweight, sees momentum carry on for the next 6 to 12 months
▼ + stars: | 2024-01-29 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

BlackRock, the world's largest asset manager, on Monday upgraded its outlook for U.S. stocks to overweight, seeing upward momentum carry on as inflation eases. "So we upgrade broad U.S. stocks — our index level view plus AI theme preference — to overweight on a tactical horizon of six to 12 months." While the firm sees inflation falling near the Fed's 2% target, it expects prices to go up toward 3% next year. "We agree with markets that inflation will fall near 2% this year, helping the upward momentum extend into the year. The firm said wage growth in the U.S. is still running too hot for services inflation to slow enough to keep core inflation near 2%.

Persons: Jean Boivin, BlackRock Organizations: BlackRock, BlackRock Investment Institute, Tech, Gross, Investors, Microsoft Locations: BlackRock, U.S

☆ 7 stocks ready to rally by 118% to 288%, according to Wall Street's top analysts as compiled by a financial data firm
▼ + stars: | 2024-01-17 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

If you're looking at this year's economic outlook to inform your investing decisions, you may want to rethink that strategy. Investors like Bryant VanCronkhite, a senior portfolio manager at Allspring , agree that the environment is ripe for active management. The days of overpriced equities that benefited from low interest rates will soon hit a brick wall. One option is to take a cue from Wall Street's top analysts — and TipRanks, a financial data firm, has analyzed reams of data to compile useful lists. Below is a set of seven mid-cap stocks that analysts have given "strong buy" ratings with high upside.

Persons: It's, Long, Goldman Sachs, Jean Boivin, Bryant, — Organizations: Business, Bank of, BlackRock Investment Institute, Allspring, NYSE, Nasdaq

☆ Don't count on the Fed slashing rates given the inflation 'rollercoaster' risk, warns BlackRock
▼ + stars: | 2024-01-09 | by ( Anil Varma | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewInvestors positioning for sharp interest-rate cuts by the Federal Reserve this year may be disappointed, according to BlackRock. Increased geopolitical risks will also fuel price pressures in the coming years, according to BlackRock, reducing room for the Fed to ease monetary policy. "We think the Fed may not be able to deliver the rate cuts markets expect, even with growth moderating," analysts led by Jean Boivin wrote. "We think that means inflation is set to rollercoaster back up near 3% in 2025 as the goods price drag fades.

Persons: —, Jean Boivin Organizations: Service, Federal Reserve, Business, Investors, UBS, Fed, NatWest Locations: BlackRock

☆ BlackRock Investment Institute raises rating of long-dated US Treasuries
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: 1 min

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsOct 16 (Reuters) - BlackRock Investment Institute on Monday raised the rating of long-dated U.S. Treasuries to "neutral" from "underweight" as it sees yields approaching a peak. "We now see about equal odds that long-term yields swing in either direction," said Jean Boivin, head of BlackRock Investment Institute. BlackRock Investment Institute, an arm of U.S.-based investment firm BlackRock that provides proprietary investment research, is "overweight" on euro area and UK bonds as it sees more rate cuts than the market in these regions. Reporting by Susan Mathew in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Lamarque, Jean Boivin, Susan Mathew, Shounak Dasgupta Organizations: Department of, U.S . Treasury, REUTERS, BlackRock Investment, BlackRock Investment Institute, Thomson Locations: Washington , U.S, U.S, BlackRock, Bengaluru

☆ Investors can get a 5% yield in these assets and skip the bond market volatility
▼ + stars: | 2023-10-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investing in money market funds The interest in money market funds began to heat up when the Federal Reserve started raising interest rates last year, Antoniewicz said. Some $64.13 billion flowed into money market funds the week ended Wednesday, bringing total net assets to a record $5.71 trillion, per the Investment Company Institute . Net assets also hit a record within retail money market funds, reaching $2.16 billion, the ICI said. The annualized 7-day yield yield on the Crane 100 list of the 100 largest taxable money funds is currently 5.18%. "So if you have stability in a money market fund and an equal or higher yield, why would anyone consider leaving a money market fund to go longer term and have the volatility?"

Persons: Peter Crane, Jean Boivin, Shelly Antoniewicz, Antoniewicz, Barry Glassman, Glassman, I'm Organizations: Crane, Treasury, Federal Reserve, BlackRock Investment Institute, Investment Company Institute, ICI, Data, Wealth Services

At the height of the tightening cycle in September last year, eight central banks hiked rates by a cumulative 550 bps. Year-to-date, G10 central banks have delivered 21 rate hikes and tightened by a total of 725 bps. That compares with 54 rate hikes in the whole of 2022 and 2,700 bps of rate hikes. Developed markets interest ratesMeanwhile, emerging markets were slightly further advance in the cycle with some central banks changing tack to easing mode. That compares with 11 meetings in April, where two central banks delivered a total of 50 bps.

Persons: Jean Boivin, Karin Strohecker, Vincent Flasseur, Hugh Lawson Organizations: European Central Bank, Bank of England, Federal Reserve, BlackRock Investment Institute, UN, Thomson Locations: Australia, New Zealand, Norway, BlackRock, Israel, South Africa, Thailand, Malaysia, Hungary

☆ Mega-cap tech dominance in the S&P 500 is obscuring investor bets that the US may already be in a recession
▼ + stars: | 2023-05-31 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

The jump in S&P 500's big tech stocks is masking concerns among investors that the US is already in recession, BlackRock Investment Institute says. The US has logged back-to-back quarters of contraction in gross domestic income. The S&P 500 has tacked on about 9% this year. Last week, the government said gross domestic income declined 2.3% in the first quarter of 2023 on a seasonally adjusted annual basis. Its aggressive series of hikes last year contributed to driving the S&P 500 down more than 18% last year.

Persons: —, Jean Boivin Organizations: BlackRock Investment Institute, US, Service, Apple, Nvidia, Microsoft, Fed Locations: BlackRock, Germany, Europe's, U.S

☆ You can now make more money holding cash than a traditional stock-bond portfolio
▼ + stars: | 2023-02-28 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Investors aren't making as much money on the classic 60/40 strategy as holding short-term bonds. The mix of US equities and debt yields 5.07%, while yields on the six-month US Treasury hit 5.16% on Tuesday. Cash holdings haven't paid out more than the 60/40 portfolio since 2001. Meanwhile, returns on short-term Treasury bills are also sensitive to increases in the fed funds rate and climb alongside the benchmark. In 2023, the 60/40 strategy has given investors 2.7% after tumbling 17% last year, its biggest decline since 2008.

☆ Investors should pile into short-term bonds as markets wake up to the reality that the Fed is going to stay aggressive, BlackRock says
▼ + stars: | 2023-02-24 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Investors may want to look to short-term bonds as stocks sell off amid fears of a hawkish Fed, per BlackRock. US 2-year treasury yields jumped near 15-year highs this week as equities retreated. Traders are assessing hotter-than-expected Core PCE data released on Friday. US 2-year Treasury yield jumped near 15-year highs of 4.9% this week as investors placed bets on more rate hikes by the Fed. Core PCE increased 0.6% from a month earlier, the most since June.

☆ BlackRock shares a 2-part stock-trading strategy for an expected downturn in stocks as the Fed forces the economy into a recession with higher rates
▼ + stars: | 2023-02-22 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

With inflation still elevated, a strong economy means the Fed will push on the gas pedal more. To avoid the resulting downturn, invest in short-term Treasurys and emerging market stocks, the firm says. Eventually, that will weigh on economic growth and hurt stocks, BlackRock said in a commentary on Tuesday. The Vanguard Short-Term Treasury ETF (VGSH) and the Schwab Short-Term U.S. Treasury ETF (SCHO) are two vehicles for gaining exposure to short-term government bonds. The iShares MSCI Emerging Markets ETF (EEM) and the SPDR Portfolio Emerging Markets ETF (SPEM) offer exposure to emerging-market stocks.

It's time to rethink bonds, according to the BlackRock Investment Institute, which said "the lure of fixed income is strong" right now. The research arm of BlackRock , one of the world's largest asset managers, urged investors to favor investment-grade bonds, short-term government debt and inflation-linked bonds amid recession fears and higher-for-longer inflation. "Higher yields are a gift to investors who have long been starved for income. "Investors also will increasingly ask for more compensation to hold long-term government bonds — or term premium — amid high debt levels, rising supply and rising inflation." The BlackRock Investment Institute has raised its overweight position on investment-grade credit, but remains underweight on long-term government bonds.

☆ BLACKROCK: Here's how to survive a market that's underestimating the damage from a recession, and profit on the other side
▼ + stars: | 2022-12-02 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Stock market investors haven't priced in a recession yet, according to BlackRock. The firm says investors are too hopeful about future rate cuts and aren't ready for falling profits. The firm's playbook lays out a multi-asset strategy for before and after an expected recession. The other — based on BlackRock's view that a recession is coming — is how much "economic damage" is reflected in asset prices. "We find that earnings expectations don't yet price in even a mild recession," according to a recent report from the BlackRock Investment Institute.

REUTERS/Ricardo Moraes/File Photo/File PhotoLONDON, Nov 2 (Reuters) - The pace and scale of rate hikes delivered by central banks around the globe in October slowed down dramatically following September's historic peak. The latest moves have brought total rate hikes in 2022 from G10 central banks to 2,050 bps. Emerging markets interest ratesMarkets had recently taken heart from indications that rate hikes from major central banks - especially the U.S. Federal Reserve - were slowing down. "We see central banks on a path to overtighten policy," said Boivin on Monday in a weekly outlook note from the world's largest asset manager. "We think the Fed, like other developed market central banks, will only stop when the severe damage from rate hikes is clearer.

☆ Taking cover in bonds ahead of a recession? BlackRock says that's now an 'obsolete' strategy
▼ + stars: | 2022-10-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

One important part of the recession playbook is "obsolete" — and that's seeking shelter in bonds, according to BlackRock, the world's largest asset manager. "We're underweight government bonds because yields have room to move higher, and we don't think they can be a safe haven when recession comes," BlackRock wrote. Higher rates and inflation will create a "ripe environment" for investors to demand higher term premiums for long-term bonds, BlackRock said. The move sent financial markets into a tailspin , as investors ditched U.K. bonds and sold off the pound. What to buy Investors still looking to buy bonds should prefer inflation-linked ones as they are "not pricing in persistent inflation," BlackRock said.

☆ BlackRock says it's time to 'shun most stocks' with markets underestimating the risk of a Fed-induced recession
▼ + stars: | 2022-09-27 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The Fed and other central banks have underestimated the severity of the recession that their rate hikes could trigger, the asset manager said. But Boivin's team said that the Fed's cheerful economic projections overestimate the likelihood of a soft landing. "This soft landing doesn't add up to us," Boivin's team said. The global "rate-hike blitz" suggests that other central bankers share the Fed's optimistic outlook, according to Boivin's team. BlackRock warned that aggressive overtightening could trigger a downturn before inflation has cooled sufficiently, leaving central banks torn between raising and slashing rates.

☆ BlackRock says it's shunning stocks because of economic pain ahead from central bank tightening
▼ + stars: | 2022-09-27 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The pain for stocks is far from over and investors should look elsewhere until the market comes to grip with a global recession caused by central banks, according to the BlackRock. "Many central banks aren't acknowledging the extent of recession needed to rapidly reduce inflation," wrote Boivin and team. Bonds and stocks have both fallen sharply this year as the Federal Reserve and other central banks have hiked interest rates. We're tactically underweight developed market (DM) stocks and prefer credit," the note said. One area of stocks where BlackRock is bullish comes from the transition to clean energy.

REUTERS/Brendan McDermid/File PhotoSept 19 (Reuters) - Just months ago, investors worried the Federal Reserve was not fighting inflation aggressively enough. Several jumbo rate hikes later, some now fear the Fed will plunge the economy into recession by tightening monetary policy too quickly. Investors are also pricing in meatier rate hikes down the road, with the terminal rate for U.S. fed funds now at 4.4%. read moreDoubleLine’s Chief Executive Jeffrey Gundlach, who had in June criticized the Fed for moving too slowly, told CNBC last week he was worried the Fed might hike rates too far. Some investors think the economy may be resilient enough to withstand a more aggressive Fed.

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