BlackRock's Asset Allocation and Global Market Views for the Third Quarter
"Although deep recessions historically have been followed by strong recoveries, the current cycle is far from typical. Ongoing credit-related problems, heightened levels of risk aversion and lower levels of both debt and spending will act as headwinds to economic growth for some time. As a result, we expect to see a roller-coaster-like environment for the economy and financial markets for the considerable future, although we do believe that conditions are likely to improve gradually. This backdrop is not a great one for stocks and other higher-risk assets, nor is it a disastrous one. Both monetary and fiscal policies remain highly stimulative, and a great deal of cash remains on the sidelines, all of which should be supportive of better market performance..." Please click here to continue reading the report.