BlackRock has closed its “underweight” position in European equities and credit, and upgraded European government bonds to “overweight,” in anticipation of a “decisively dovish” shift in policy from the European Central Bank (ECB). Analysts with the world’s largest asset manager anticipate that Thursday’s monetary policy meeting will lay the foundations for the ECB to deploy a fresh stimulus package in the coming months, against a backdrop of a “stabilizing growth outlook and persistent inflation undershoots.” In a note published Tuesday, BlackRock’s financial conditions indicator (FCI) highlighted a slow recovery in ... (full story)