"Market pricing for rate cuts is a bit overdone in our view," said Wei Li, Global Chief Investment Strategist for BlackRock. "Rate volatility is here to stay."
BlackRock continues to see opportunities in equities in AI stocks and technology, particularly in the memory sector, as well as quality factors. The firm has a slight underweight to US equities as a whole, though remains favorable on sectors such as industrials and health care.
Global markets will be
swayed by greater volatility in 2024 as the Federal Reserve cuts
benchmark interest rates fewer times than futures markets are
pricing in, strategists at the BlackRock.
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