BlackRock Shifts to Short-Term Treasuries, Downgrades U.S. Stocks

BlackRock's investment institute shifted its U.S. asset allocation toward short-term Treasuries and cut its rating on U.S. equities to neutral, marking a notable change after nearly six years of underweighting U.S. government debt. The firm raised short-term U.S. Treasuries to overweight and moved long-term Treasuries from underweight to neutral. It also lowered U.S. agency mortgage-backed securities to neutral and reduced its underweight position in Japanese government bonds. BlackRock's investment institute has maintained an underweight stance on U.S. Treasuries since October 2020, when the 10-year Treasury yield was near 0.9%.

Source: TokenPost