BlackRock

Insights from the BlackRock Investment Institute across asset classes and macro.

United States12 articlesLast published 14 Jun 2026

Multi-AssetEquitiesFixed Income

Research

Weekly market commentary | BlackRock Investment Institute

BlackRock Investment Institute argues that mega forces such as AI and geopolitical fragmentation have rendered traditional strategic asset allocation insufficient, making every allocation decision an active call. The piece advocates for a Total Portfolio Approach (TPA) built around underlying economic and factor exposures—spanning public and private markets—rather than conventional asset class labels, supported by scenario-based frameworks and dynamic risk budgeting.

14 Jun 2026

BlackRockFixed Income

California: A State Like No Other | BlackRock

BlackRock's Municipal Analyst team provides a detailed assessment of the California municipal bond market, highlighting that muni yields have reset to multi-year highs (Bloomberg CA Muni Index yield-to-worst ~3.23%, tax-equivalent yield of ~7.04% for top-bracket investors) and identifying preferred sectors including pre-paid energy bonds, sales-tax-supported transportation agencies, and select hospitals. The piece balances California's fiscal strengths—$4.2T GDP, revenue collections ~8% above forecast, and strong liquidity—against structural risks such as volatile PIT-dependent revenues, rising Medicaid costs, and population outmigration.

26 May 2026

BlackRockEquities

Equity outlook after more magnificent earnings | BlackRock

BlackRock's Global CIO of Fundamental Equities, Carrie King, highlights that S&P 500 Q1 2026 earnings growth is tracking at 28% year-over-year—more than double the 12% consensus estimate—driven by AI-related tailwinds, upward earnings revisions, and broadening strength beyond the Magnificent 7. The piece argues that the expanding earnings opportunity set across industrials, financials, and "HALO" stocks supports active stock selection as the primary strategy for capturing alpha.

25 May 2026

BlackRockEquities

Energy stocks, last hedge standing | BlackRock

BlackRock's Russ Koesterich argues that energy stocks have become the primary effective portfolio hedge amid a geopolitical conflict driving oil prices higher, as traditional hedges—bonds and gold—have failed due to rising real yields and positive correlation with equities. He cautions that the energy stock hedge would likely reverse if prolonged supply disruption shifts market concern from inflation to recession, at which point long-duration bonds would resume their hedging role.

20 May 2026

BlackRockMulti-Asset

Multi Asset Income Monthly Insight | BlackRock

BlackRock's Multi-Asset Income Fund (Institutional share class) returned +309 bps in April 2026, outperforming its blended benchmark return of +167 bps, as reported in this monthly performance update. The fund employs a tactical, unconstrained, risk-first approach to income generation across global geographies and asset classes, including high-yield bonds, investment-grade credit, and equities.

18 May 2026

BlackRockEquities

Innovation beyond tech: inside healthcare stocks | BlackRock

BlackRock's Global CIO of Fundamental Equities and Head of Health Sciences present a bullish case for healthcare stocks, citing strong earnings (89% of S&P 500 healthcare names beat expectations in 2025), a historically wide 16% valuation discount to the broader market, and accelerating AI adoption across diagnostics and drug development. The piece also addresses policy headwinds—tariffs, the OBBBA, and the Most Favored Nation drug-pricing rule—arguing that most overhangs are now clearing, while emphasizing the sector's low correlation to technology and compelling dispersion for active stock selection.

14 May 2026

BlackRockFixed Income

Fixed Income & Bond Market Outlook | BlackRock

BlackRock's Q2 2026 Fixed Income Outlook argues that bond markets have entered a new regime driven by supply-side shocks, elevated term premia, and shifting stock-bond correlations, making selectivity across regions, sectors, and maturities more important than broad duration exposure. Rick Rieder and a team of senior PMs advocate a "Dynamic Patience" approach—emphasizing short-to-intermediate carry, tactical duration, and active portfolio construction—while highlighting specific opportunities in European credit, EM debt, Asian divergence, and repriced municipal bonds.

12 May 2026

BlackRockMulti-Asset

3+1 Active Investor Series | BlackRock

BlackRock's weekly short-form video series features leading active investors sharing three market insights per episode; recent episodes cover Q1 U.S. earnings strength (16%+ S&P 500 YoY growth), AI adoption themes, defense/aerospace overweights, and gold as a portfolio diversifier. The format blends timely multi-asset market commentary with guest appearances, including a crossover episode with Rick Rieder (CIO Global Fixed Income) and Eli Manning discussing preparation and leadership under pressure.

5 May 2026

BlackRockEquities

Adding AI resilience to equity portfolios | BlackRock

BlackRock Fundamental Equities argues that as equity markets grow more selective around AI exposure in 2026, a rotation toward "HALO" (Heavy Assets Low Obsolescence) sectors—energy, utilities, industrials, and materials—offers diversification from AI disruption risk. The piece identifies U.S. value equities and infrastructure equities as two practical vehicles for gaining HALO exposure, supported by sector-weight and PP&E data alongside company case studies.

29 Apr 2026

BlackRockMulti-Asset

Investors in retirement and an income approach | BlackRock

BlackRock's multi-asset income team uses two case studies—an accumulator and a retiree decumulator—to illustrate how sequence-of-returns risk can devastate retirement portfolios reliant on principal liquidation, and why an income-centric portfolio can preserve and grow capital through distributions. The piece argues that transitioning to a diversified income-generating portfolio at retirement, blending high yield, investment-grade bonds, and value equities, mitigates "dollar cost ravaging" and supports sustainable withdrawals.

28 Apr 2026

BlackRockMulti-Asset

Q2 2026 Investment Outlook

BlackRock Investment Institute's Q2 2026 outlook identifies three dominant investment themes—AI's macro-scale capital buildout, rising leverage across tech and sovereign balance sheets, and the breakdown of traditional diversification—against the backdrop of colliding mega forces including AI acceleration and Middle East geopolitical disruption. The report expresses overweights in U.S. and EM equities (especially AI beneficiaries and commodity exporters), underweights long-term U.S. Treasuries, and favors private credit, infrastructure equity, and hedge funds as idiosyncratic diversifiers.

21 Apr 2026

BlackRockEquities

Energy and the AI buildout, an investor’s view | BlackRock

BlackRock's Fundamental Equities team analyzes the power capacity constraints created by the AI data center buildout, estimating ~148 GW of additional U.S. power capacity will be needed by 2030, versus ~42 GW consumed in 2025. The piece concludes that near-term constraints are manageable through gas, solar, storage, and behind-the-meter solutions, and argues the opportunity is shifting from broad AI demand exposure to selective, active stock picking.

20 Apr 2026