Doll warns against complacency

US equity markets have been pricing in the end of the recession but investors must not become complac...

US equity markets have been pricing in the end of the recession but investors must not become complacent, warns BlackRock's Bob Doll. The chairman and global CIO at the group says while there have been some marginal improvements, not least a 2.2% rise in personal consumption in Q1, the housing market remains in trouble and unemployment has continued to rise. "We would also caution while the massive degree of reflation policy appears to have helped restore some semblance of normalcy to the credit markets, at some point all of this stimulus will have to be followed by some constraints," he ...