Reply To: BlackRock Earnings Cushioned by ETF Products as Assets Under Management Fall 16% To 2020 Levels


BlackRock underweight European, UK and U.S. equities,

This is a six-to-12-month view from the firm, in brief:

We are underweight U.S. equities.
The Fed intends to raise rates into restrictive territory. The year-to-date selloff partly reflects this. Yet valuations have not come down enough to reflect weaker earnings prospects.

On European stocks:
We are underweight European equities as the fresh energy price shock in the aftermath of the tragic war in Ukraine puts the region at risk of stagflation.

On the UK:
We are underweight UK equities following their strong performance versus other DM markets thanks to energy sector exposure.