LONDON (Reuters) – The BlackRock Investment Institute said on Monday it had trimmed its “overweight” to credit on a long-term view.
“We have turned neutral on credit on a strategic basis because we see investment grade spreads offering less compensation for any increase in default risks,” BlackRock said in its weekly note, adding it would keep its overweight on a tactical 6-12 month basis.
“On a tactical horizon, extraordinary measures by central banks including purchases of corporate debt are supportive.”
(Reporting by Karin Strohecker; Editing by Tom Arnold)
