The ETF Portfolio Strategist: Saturday, Jan. 23

BlackRock’s four asset allocation funds rose moderately this week, albeit well behind the gains for the strategy benchmarks listed above. Nonetheless, this quartet confirmed what we saw elsewhere this week: a revival in animal spirits.

With the US election and the related mess now in the rear-view mirror, all eyes turn the new mess of governing and negotiating the details of Biden’s policy agenda in a Congress that favors Democrats, just barely.

Meanwhile, the pandemic is still raging and economic news remains mixed, which suggests that pressure for results will ramp up quickly for the new administration. As a result, next week will begin to offer a clearer measure of how markets are pricing risk amid political regime change in Washington.

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