LONDON — Stock picking is going to be more important for investors than macroeconomic themes in 2022, according to BlackRock's Nigel Bolton.
Markets continue to grind higher against a backdrop of uncertainty, and developments on the Covid-19 front, global supply chain problems, persistent high inflation and potential monetary policy tightening from central banks remain key downside risks going into the new year.
Stock markets had led a broad bull run for risk assets over the past 18 months, although the emergence of the new omicron Covid variant recently resurfaced some volatility. Bolton suggested that while the outlook for stocks in 2022 will be more challenging, they will continue to eke out gains so long as real interest rates remain
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