BlackRock’s research arm, in its mid-2026 Global Investment Outlook, cut its
6–12 month rating on emerging-market equities from overweight to neutral, citing
concentration risk around AI-exposed stocks. It flagged markets such as South
Korea as particularly vulnerable due to heavy reliance on AI-related firms. The
report said short- and medium-term euro-area government bonds are attractive,
adding that market worries about the rate outlook appear overdone.
