For those following 2020 market outlooks, the past two days have been dominated by BlackRock. The world’s largest money manager began unveiling its calls for the coming year on Monday, and on Tuesday it added TV appearances and journalist discussions with its most senior investors and strategists around the globe.
The broadest takeaway is that 2019’s “extraordinary returns” across asset classes will not continue over the next 12 months. That is not particularly riveting, though, given that BlackRock itself said in 2016 that investors should expect smaller gains for pretty much everything in the coming five years...
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