World’s Largest Asset Manager Downgrades Global Equities To Neutral
by Tyler Durden
ZeroHedge.com
6/1/2106
With one after another bank issuing downgrade reports on global stocks, including such stalwarts as JPM and, most recently, Goldman, overnight a far more important market entity – the world’s largest asset manager – joined the club when BlackRock downgraded U.S. and European stocks to neutral, citing elevated U.S. valuations and the higher probability of a midyear interest-rate increase by the Federal Reserve.
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