Mon, Apr 21, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

BlackRock’s Bob Doll says US growth should remain positive

Tuesday, July 24, 2012

Komfie Manalo, Opalesque Asia: Bob Doll, Senior Advisor to BlackRock, the world’s largest asset manager with $3.56tln in assets under management as at end June 30, 2012, said that to suggest that the US economy is heading into a recession is an overreaction.

In his weekly investment commentary, cited the number of important sources of strength within the United States, including the strong financial health of the corporate sector, a healing banking system, historically low levels of credit card delinquencies and signs of increased discretionary spending by consumers, which makes the risk of recession low. "Our view is that absent some sort of new catastrophic event, U.S. growth should remain positive, if hardly stellar," Doll said in his commentary.

Although he acknowledged that United States is facing a number of structural problems that are keeping a lid on economic growth. Business confidence is weak, which has translated into anaemic levels of hiring and capital spending. The looming "fiscal cliff" and the associated political dysfunction make it difficult to believe that the nation’s debt problems will be solved and the country is still in the midst of a long-term deleveraging process, he said.

Doll commented, "We are currently in the midst of second-quarter earnings reporting season and results have been at least decent, with forward guidance being fairly tepid. Ove......................

To view our full article Click here

Banner
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Classic Auto Funds Limited (CAF) launches several car investing funds[more]

    Bailey McCann, Opalesque New York: A new trend in alternative alternatives is emerging - car appreciation funds. Classic Auto Funds Limited (CAF) is the first to market with several funds that make super elite luxury cars into real asset investments. As a result of growing overseas demand couple

  2. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  3. Opalesque Exclusive: Hedge fund replicators evolve[more]

    Bailey McCann, Opalesque New York: Hedge fund replicators as a group of products tend to get a bad rap from hedge fund managers who suggest that the best a replicator can offer is dynamic beta capture. A

  4. Opalesque Exclusive: Pensions, endowments, family offices reconsider life settlement investments[more]

    Bailey McCann, Opalesque New York: Hedge funds were once the largest investors in the life settlement industry, now the industry is seeing more interest from pensions, endowments and family offices directly. Life settlements have always been considered a niche part of the investing landscape, an

  5. SEC allows investment funds to use social media[more]

    Bailey McCann, Opalesque New York: The Securities and Exchange Commission (SEC) has released new guidance letting investment funds and advisors use social media to promote client reviews. The guidance seeks to assist investment managers in developing compliance policies and procedures reasonably