BlackRock Cuts 5-Year Return Assumptions Again For Most Asset Classes

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Turnill says returns for the overall U.S. equity market will be “low from a historical perspective due to high valuations,” with U.S. equities trading near 19 times earnings.

Since the global financial crisis, BlackRock has steadily lowered its five-year return assumptions across all asset classes, and announced this week that it was doing so again. “We now assume lower U.S.-dollar returns from most asset classes over the next five years, following a fall in both yields and global growth expectations,” Chief Investment Strategist Richard…