The BlackRock Investment Institute said on Monday it had trimmed its"overweight" to credit on a long-term view.
FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York U.S., July 16, 2018. To match Special Report USA-FUNDS/INDEX REUTERS/Lucas Jackson/File PhotoLONDON: The BlackRock Investment Institute said on Monday it had trimmed its"overweight" to credit on a long-term view. "We have turned neutral on credit on a strategic basis because we see investment grade spreads offering less compensation for any increase in default risks," BlackRock said in its weekly note, adding it would keep its overweight on a tactical 6-12 month basis."On a tactical horizon, extraordinary measures by central banks including purchases of corporate debt are supportive."