BlackRock trims long-term exposure to credit to ‘neutral’ citing spreads By Reuters

© Reuters. FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York

LONDON (Reuters) – The BlackRock (NYSE:) 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.”

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