BOSTON (Reuters) - Top asset manager BlackRock Inc BLK.N on Monday downgraded U.S. Treasuries and upgraded their inflation-linked peers ahead of the U.S. election.
In a research note BlackRock said that it took the step for tactical reasons.
“Markets are increasingly reflecting a unified Democratic government outcome that may lead to a significant fiscal expansion,” Blackrock said. “This electoral outcome would bring forward the market pricing of the higher inflation regime that we were already reflecting in our strategic asset views.”
Reporting by Ross Kerber; editing by Jason Neely and Chizu Nomiyama
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