BlackRock's Turnill Considers Trade A Geopolitical Risk In 2018
Yesterday, Richard Turnill, Chief Investment Strategist at BlackRock, warns that trade is a geopolitical risk as 2018 gets underway. The firm's BlackRock Geopolitical Risk Indicator (below) is running at its highest level since March 2015, citing the North Korean tensions as a potential cause.
Whilst the indicator is still below it's peak, Turnill cautions "risks such as a more muscular U.S. approach on trade bear watching" and goes as far as saying "we are most worried about the potential for a protectionist U.S. approach to trade."
Turnill continues to suggest that BlackRock is bullish on the equity markets generally, and negative on U.S. government bonds, European sovereign and European credit.