Year-to-date, technology has outperformed the broader market largely given the prevalence of low leverage, high profitability and consistent earnings across many names in the mega-cap tech space.
In many ways, 2023 continues to be the mirror image of 2022, with the most volatile assets being some of the best performers for much of the year.
Following the YTD strength in equity markets, Russ Koesterich discusses how a combination of cyclical, and a growth bias may serve investors well in today’s market.
Russ Koesterich CFA, JD, Managing Director, and Portfolio Manager discusses how improving economic expectations may suggest adding to cyclical areas of the market.
Since the March trough the S&P 500 Index has gained around 14% and ten-year Treasury yields have risen roughly 0.50%. As market conditions have improved, inter-asset correlations have also shifted.
With stocks struggling to break out of their range, rates climbing, and valuations stretched investors are rightly asking whether it’s time to sell.
Stocks are having a great year, but gold is doing even better. Year-to-date global equities are up roughly 9% in dollar terms; gold has advanced more than 10%.
Since early March bonds and growth stocks have rallied, and for the first time since 2021 bonds have resumed their role as an equity hedge.
Russ Koesterich, CFA, JD, Managing Director and Portfolio Manager, of the Global Allocation team discusses whether markets have bottomed or not.
The list of assets that have risen year-to-date is both short and odd: energy, broad commodity indexes and the dollar.
Russ Koesterich, Managing Director and Portfolio Manager, of the Global Allocation team explains why investors should expand their definition of quality in today’s market environment.
Russ Koesterich, Managing Director and Portfolio Manager of the Global Allocation team, discusses the case for the cheaper segments of growth stocks.
Russ discusses the recent volatility and how to hedge the risk in the current environment.
BlackRock Portfolio Manager, Russ Koesterich, CFA, JD discusses his preference for the US dollar over a long Treasury hedge in the current markets.
September lived up to its reputation as a bad month for stocks. Global equity markets declined more than 4%, making September the worst month since the start of the pandemic. Beyond seasonal weakness, many attributed equity losses to higher interest rates.
Russ discusses why low vol and quality stocks are exhibiting surprisingly strong performance.
Russ discusses why gold has not been an effective hedge recently.
BlackRock Global Allocation Fund portfolio manager Russ Koesterich explains why he expects volatility to drop -- and cyclicals outperform.
In this piece, BlackRock Global Allocation Fund portfolio manager Russ Koesterich discusses the implications of a rise in stock-bonds correlations.
Even after the remarkable market performance of 2020, we still see potential for continued growth in 2021.
Global Allocation Fund portfolio manager Russ Koesterich explains that consumers remain strong, though their focus keeps shifting.
The dynamics in this stage of the economy’s rebound look favorable for industries that are levered to the recovery but also offer stable business models and earnings consistency.
Navigating short-term risks is paramount, but we view the backdrop as favorable for income investors over the medium term.
The new political landscape offers opportunities for investors who adapt their strategy.
Global Allocation Fund portfolio manager Russ Koesterich discusses the appeal of the middle area when choosing between growth versus value stocks.
Despite the worst economic and health crisis in generations, U.S. consumers are defying the pessimists.
As portfolio manager Russ Koesterich discusses, negative real interest rates help explain why gold is moving more in tandem with stocks these days.
Russ Koesterich, portfolio manager of the BlackRock Global Allocation Fund, explores what’s driving the continued strength of the U.S. consumer.
Russ Koesterich, portfolio manager of the Global Allocation Fund, explains how history is not repeating itself with the recent sharp rise in tech stocks.
With cyclical stocks rebounding, portfolio manager Russ Koesterich emphasizes that being discerning is key.
Russ discusses why consumption has held up, and how the pandemic has accelerated long-term trends.
Russ highlights the surprising resilience of technology stocks this year.
Russ explains why Chinese equities should still be a core holding.
Russ discusses the surprising strength in momentum stocks, and why it may continue.
As Russ explains, bonds may not be providing significant income, but still offer a hedge against equity risk.
Russ discusses the importance of keeping perspective as we face an unprecedented crisis.
Russ discusses the reasons why gold can be an effective hedge going forward.
Technology shares are once again leaving everything else in the dust. Year-to-date, the MSCI Information Technology sector, led by U.S. tech, is beating the broader market by over 5% and is ahead of laggards, notably energy, by nearly 20%.
As Russ explains, bond yields may be low, but are still critical as an insurance policy against equity risk.
Russ discusses the catalysts favoring Emerging Markets, beginning with the Federal Reserve.
After an astounding 2019, what’s in store for 2020? Russ discusses.
As Russ explains, the evolution of the consumer, still a pillar of the markets, has major implications for investors.
Russ explains why monetary easing matters more than geopolitical risks for the markets right now.
Recent data show a slowing economy, but no recession. Russ discusses how to position a portfolio in this environment.
Once again, U.S. consumers are keeping the global economy out of the abyss. Russ discusses why.
Interest rates rose last week, but the surge did not keep stocks from climbing. Russ explains why.
Russ describes the reasons why growth stocks can still outperform value.
Easier financial conditions have lessened the blow of greater political uncertainty. Can that continue?
Given the recent volatility, investors may be wary of tech. Not so fast, Russ explains.
Russ discusses why bonds are his preferred hedge in this environment.
