How big data, AI and the human element can combine to better pursue consistent alpha.

In this article, Russ Koesterich discusses the recent performance of gold and its ongoing role as a store of value in investors’ portfolios.

Market indexes can be a useful barometer of long-term performance. But the investment opportunity set need not start and end there.

Q1 company earnings painted a picture of corporate health as markets entered a period of trade tumult. Fundamental Equities CIO Carrie King discusses the importance of staying invested amid volatility, and outlines where there may be opportunities for long-term, fundamental investors to take advantage of market nerves to add to positions within enduring investment themes.

In this article, Russ Koesterich discusses the potential impact of seasonal weakness, momentum and the effect these factors could have on earnings in 2H2025.

Retirement. It’s a phase of life that brings with it unique challenges, particularly when it comes to healthcare. In the U.S., the average lifespan is 79 years (compared to the global average of 73 years).

Bonds and stocks falling together stirs painful memories of the 2022 inflation surge. This time, trade and tariff uncertainty is to blame, along with a dose of questioning the Fed’s independence.

In this article, Russ Koesterich discusses the ongoing uncertainty around tariffs and how investors can protect their portfolios against the potential for an environment of prolonged and heighted volatility.

U.S. policy uncertainty and the ebbs and flows of AI advancement are likely to stoke continued volatility in the world’s stock markets.

Risk-assets struggled amidst extremely volatile price action as investors weighed the probabilities of tariffs hitting profits and valuations.

Less favorable seasonal technicals, increased focus on municipal-specific policy risks, and severe volatility spurred by higher-than-anticipated tariff increases weighed heavily
on sentiment and resulted in deeply negative total returns and significant underperformance versus Treasuries in March and early April.

How recent market volatility has contributed to a sharp reversal in global equities.

One of the textbook drivers of alpha is an information edge. Having more information, advanced ways to use that information, and the ability to react to it before anyone else has been a massive advantage throughout the history of markets.

The 60/40 portfolio, where 60% is invested in stocks and 40% in bonds, is the initial starting point for many portfolios. The exact asset mix is often adjusted based on an investor’s time horizon, risk tolerance, and financial goals, but the simple, proportional stock-bond combination is what is often considered a “balanced” portfolio.

Q4 company earnings offered a lot to cheer at the start of the year, even as U.S. stocks contended with bouts of volatility.

Russ Koesterich discusses the risk of higher interest rates and the potential impact (both positive and negative) such a move could have on markets.

In the second half of 2024 the risk premia associated with inflation releases declined relative to labor market data as the Fed shifted focus toward labor market and away from inflation risk. With elevated S&P 500 Index concentration and the market leadership of the artificial intelligence (AI) theme, some single company earnings (NVIDIA) have been rising risk events for the entire index.

The second Trump presidency marks a new regime for government policy, with a range of potential macroeconomic and market implications.

At the same time, the Fed has mostly ignored the impact of easy financial conditions—the combination of stock, bond, and credit conditions—offsetting increases in interest rates by bolstering wealth and confidence.

Last week’s volatility in AI-related stocks shows markets are learning in real time about the transformation underway.

In this article, Russ Koesterich discusses why gold may continue to advance in 2025 despite a stronger dollar and elevated real rate environment.

What’s in store for stocks after two years of strong returns? Fundamental Equities Global CIO Tony DeSpirito assesses the prospects for another positive year and offers his year-ahead outlook through the lens of an active stock picker.

Value stocks hit some investors’ radar screens with a performance uptick in the second half of 2024. Yet many portfolios may be unwittingly underweighted in this popular equity style.

While stocks can move higher, the bond market will continue to matter. Higher rates suggest that equity leadership may continue to reside in companies that are relatively rate insensitive.

We are pro-risk, with the biggest overweight in U.S. stocks, yet eye three areas that could spur a view change.

Three interconnected lessons from 2024 help shape our 2025 outlook.

The S&P 500 Index posted its best month of the year in November, with a clear election result and a “no-surprise” Fed rate cut providing support.

Why cyclical leadership in equities could continue into 2025.

Investment themes are highly dynamic, shouldn’t your investment process be too? Learn about a systematic framework to help with identifying and investing across the themes driving markets.

Historical trends are being permanently broken in real time as mega forces, like the rise of artificial intelligence (AI), transform economies.

Expectations for solid corporate earnings drove our U.S. and Japanese equity overweights this year. They have delivered, showing that fundamentals are key. Earnings strength could matter more to equity investors in 2025 over valuations.

Why the equity market rally following the U.S. presidential election could continue into year-end.

The current global expansion has been characterized as one of US exceptionalism. Despite many developed market economies outperforming low expectations, the robustness of the US expansion has stood out. We believe this can continue based on differences between the US and European economies.

Municipal bonds broke their winning streak in October, posting negative total returns alongside broader fixed income assets.

We are in a world where multiple, starkly different outcomes are possible. The decisive U.S. election outcome has stoked uncertainty about future U.S. policy.

This is not a typical business cycle. We see structural forces holding inflation higher long term, keeping the Fed from cutting as much as markets expect.

As we think about investing around a historic election, establishing what we know, what we need to know, and what we can count on is a useful foundation for navigating the uncertainty.

In this article, Russ Koesterich discusses why he believes U.S. exceptionalism is a trend that is likely to continue.

Annuity owners value the financial security that guaranteed lifetime income provides.

The start of a rate-cutting cycle has opened up new questions ― and possibilities ― for stock investors. Tony DeSpirito, Global CIO of BlackRock Fundamental Equities, outlines key areas to watch as the Fed takes action to “recalibrate” interest rates.

The tendency to blindly follow these rules has led investors towards prematurely de-risking and over-estimating the likelihood of recession.

Municipal bonds bucked the seasonal trend and posted strong performance in September.

In this article, Russ Koesterich discusses gold may continue to serve as a store of value in the current environment.

The puck has certainly moved since our last market commentary. This month, we argue that the needle on portfolio construction should move with it. Equities have been the driver of returns for much of the last few years.

We bring together historical and real-time analysis for insight into the economy, markets, and potential alpha opportunities and risks we’re watching.

The world could be undergoing a transformation akin to past technological revolutions. But the speed, size and impact of that investment is highly uncertain. We think leaning into the transformation and adapting as the outlook changes will be key.

The economy is not the stock market. And that’s good news.

The impressive arc of AI stock growth has been something to behold. Touring Silicon Valley and meeting with AI and tech company leaders offers another level of inspiration and insight on the market juggernaut. Active equity investor Tony Kim shared the experience and his broader AI investment outlook with The Bid podcast.

As the back-to-school season fills your social media feed with first-day photos and ads for the latest school supplies, it is also a prime opportunity for financial advisors to reconnect with clients about their education savings plans.

Munis cemented their best “summer” since 2010 after another month of strong performance. Some near-term caution is warranted given that September has been historically challenging. Robust issuance ahead of the election should provide opportunities in the primary market.