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BlackRock downgrades U.S. Treasuries ahead of election

Published 10/26/2020, 09:46 AM
Updated 10/26/2020, 10:10 AM
© Reuters. FILE PHOTO: U.S. dollars are counted out by a banker at a bank in Westminster
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BOSTON (Reuters) - Top asset manager BlackRock Inc (N:BLK) 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."

© Reuters. FILE PHOTO: U.S. dollars are counted out by a banker at a bank in Westminster

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