Climate Transition: A Driver Of Returns
Mar. 02, 2021 5:50 AM ETSPY, VOO, DIA, IWM, IVV, SH, IEF, VEA, TNA, SDS, SPXL, TZA, USA, RSP, UPRO, SPXS, SPXU, CRF, SSO, EFA, GAB, IEI, UDOW, SDOW, SCHX, IEFA, VFINX, DOG, DXD, VV, VTWO, GSY, JEPI, DDM, VGIT, SRTY, URTY, RWM, UWM, TWM, ZTR, URTH, EPS, SCHR, SFY, SPSM, PST, SPDN, SPUU, TYD, UST, DBEF, IWL, ESGD, SPTI, TYO, FEX, IDEV, ILCB, TBX, DTYS, YPS, EQL, GSIE, EEH, GSEW, HEFA, SPXT, EFZ, SPXE, BIBL, SPLX, CHGX, USMC, DFVL, EDOW, DMRL, DUSA, RWL, DFVS, HUSV, KLDW, FDT, RODM, JHML, BAPR, SPXN, EFU, IDHQ, SPXV, HFXI, QMJ, EFO, IQIN, OMFS, DTYL, XVV, BAUG, BJUN, UDPIX, DWMF, BJUL, BOCT, PAPR, SFLA-OLD, DEFA, EFAX, FWDD, PJAN, RFDI, SYE, UOCT, CSTNL, PJUN, RYARX, SSPY, UJAN, PAUG, RYRSX, TRND, UAUG, PQIN, IJUL, BTYS, FWDI, DDBI, MFLAF1 Comment
Jean Boivin, PhD
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Summary
- Our updated, climate-aware return assumptions support our strategic preference for developed market equities.
- Rising inflation expectations have driven up U.S. 10-year Treasury yields but to a lesser degree than in the past. Real yields remain deep in negative territory.
- U.S. nonfarm payrolls data will be in focus after a modest increase of jobs in January. Global purchasing managers index data will shed light on the restart.
This article was written by
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Jean Boivin, PhD, is head of economic and markets research at the Blackrock Investment Institute. Prior to joining BlackRock, Dr. Boivin served as deputy governor of the Bank of Canada and as Finance Canada’s associate deputy minister and G7/G20 deputy. He has taught at Columbia Business School and HEC Montreal. He writes about the global economy, global markets and policy.