BlackRock Investment Directions By Bob Doll, chief equity strategist, and Peter Fisher, global head of fixed income

Over the past three months, the macroeconomic backdrop has improved slightly with economic data moving from “bad” to “less bad” (but not yet “good.”) Both equity and fixed income markets, however, are pricing in a gloomier outlook than we expect. While we would continue to advise investors to proceed with caution, we believe this disconnect presents investment opportunities.

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