BlackRock's Doll and Fisher believe bailouts will help, eventually

BlackRock CIO Bob Doll has got together with group bond manager Peter Fisher to pen a relatively dovi...

BlackRock CIO Bob Doll has got together with group bond manager Peter Fisher to pen a relatively dovish credit-crunch report. The managers believe the economy is already in recession and a recovery will be slow in coming next year. But, steps taken by central banks should eventually help stabilise the banks, allowing them to remove some bad debt from their balance sheets. “As a result, lending should grow again and some measure of liquidity should return to the markets,” said the managers. “The US economic landscape was fragile even before the most recent financial panic. The repor...