BlackRock: A new investment playbook is needed, what worked in the past won’t work now

BlackRock’s Philipp Hildebrand and a team of top executives wrote, “the new regime of greater macro and market volatility is playing out. A recession is foretold.”

The Great Moderation, a time of low inflation and sustained economic development, according to Hildebrand and his team, allowed equities and bonds to thrive in a way that won’t be possible going ahead.

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