BlackRock warns of US “fiscal cliff”
Asian investors’ short-term exposure to US financial assets may need repositioning in face of a potential year-end fiscal crunch, says BlackRock’s chief bond strategist, Jeffrey Rosenberg.
Investors exposed to US financial assets have enjoyed reasonable certainty over short-duration exposures and a lot of question marks regarding the long-term outlook.
But even that modicum of confidence, regarding one-year Treasury bonds, could become a point of concern if American politicians don’t address a looming “fiscal cliff” at the end of 2012, says Jeffrey Rosenberg, New York-based chief investment strategist for fixed income at BlackRock.
Following the election, Congress…
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