In addition, in a week when much of the news was negative, Europe surprised to the upside with a big surge in manufacturing. So, for investors that have focused on the United States, I advocate looking to increase international exposure to the other large developed economies, specifically Europe and Japan. In fact, I now hold overweight views of both markets. You can read more about my specific country views in my Investment Directions monthly market outlook piece.
Russ Koesterich, CFA, is the Chief Investment Strategist for BlackRock and iShares Chief Global Investment Strategist. He is a regular contributor to The Blog and you can find more of his posts here.
Source: BlackRock Weekly Commentary, Bloomberg