March 26, 2020 / 10:39 AM / 4 days ago

BlackRock says 'rebalancing into risky assets' after $2 trillion U.S. stimulus

FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York U.S., July 16, 2018/File Photo

(Reuters) - Asset manager BlackRock said on Thursday the market selloff had created significant value for long-term investors and told clients it now favoured “rebalancing into risk assets”.

Within the equity space the company said it preferred U.S. markets due to strength of Washington’s policy response and the quality of market.

“The unprecedented actions represent the type of decisive policy response we have been calling for – and set the scene for an eventual economic recovery,” BlackRock added.

Reporting by Sujata Rao, editing by Maiya Keidan

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