Dos oportunidades afloran tras el rebote del mercado

Russ Koesterich, BlackRock - Miercoles, 29 de Octubre

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La semana pasada la renta variable se benefició de un número de catalizadores, entre ellos los resultados empresariales estadounidenses que fueron mejores de lo esperado . En adelante, pensamos que la renta variable puede seguir apreciándose. Nos sigue gustando la renta variable japonesa ya que pensamos que podrá seguir apreciándose a medida que grandes instituciones incrementan su exposición a esta clase de activo Tras las recientes salidas, el sector de consumo discrecional parece más atractivo, en parte por la caída en los precios de energía y la subida de los tipos de interés.

As we suggested a few weeks ago, high
yield became attractive during the recent sell-off. Since then, high yield bonds
have rallied and the spreads versus Treasury bond yields have contracted by over
60 basis points (0.60%).
One of the reasons for the rebound in high yield is the lack of yield in other segments
of the fixed income markets. With inflation remaining low throughout the world—
core U.S. inflation in September came in at just 1.7%, below the Fed’s target—the
Russ Koesterich, Managing Director, is
BlackRock’s Global Chief Investment
Strategist, as well as Global Chief
Investment Strategist for BlackRock’s
iShares® business. Mr. Koesterich was
previously Global Head of Investment
Strategy for active equities and a senior
portfolio manager in the U.S. Market
Neutral Group. Prior to joining the firm
in 2005, he was Chief North American
Strategist for State Street Bank.
It’s the question on everyone’s mind. And fortunately, there are
answers. Visit blackrock.com for more information.
so what do i do
with my money?®
WEEKLY INVESTMENT
COMMENTARY
Going forward, we think
stocks can make further
gains, and would continue to
favor Japanese equities
while adopting a more
constructive stance on U.S.
consumer stocks.

As we suggested a few weeks ago, high
yield became attractive during the recent sell-off. Since then, high yield bonds
have rallied and the spreads versus Treasury bond yields have contracted by over
60 basis points (0.60%).
One of the reasons for the rebound in high yield is the lack of yield in other segments
of the fixed income markets. With inflation remaining low throughout the world—
core U.S. inflation in September came in at just 1.7%, below the Fed’s target—the
Russ Koesterich, Managing Director, is
BlackRock’s Global Chief Investment
Strategist, as well as Global Chief
Investment Strategist for BlackRock’s
iShares® business. Mr. Koesterich was
previously Global Head of Investment
Strategy for active equities and a senior
portfolio manager in the U.S. Market
Neutral Group. Prior to joining the firm
in 2005, he was Chief North American
Strategist for State Street Bank.
It’s the question on everyone’s mind. And fortunately, there are
answers. Visit blackrock.com for more information.
so what do i do
with my money?®
WEEKLY INVESTMENT
COMMENTARY
Going forward, we think
stocks can make further
gains, and would continue to
favor Japanese equities
while adopting a more
constructive stance on U.S.
consumer stocks.

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