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10 months ago
BRIEF-Blackrock's Turnill says see a brighter oil price outlook helping risk assets
October 10, 2016 / 5:26 PM / 10 months ago

BRIEF-Blackrock's Turnill says see a brighter oil price outlook helping risk assets

Oct 10 (Reuters) - Blackrock's Richard Turnill :

* "see a brighter oil price outlook helping risk assets and hurting many perceived "safe-haven" investments"

* Federal Reserve meeting minutes could clarify the Fed's thinking on rate increases

* see less risk of renewed oil price plunge, potential for gradual rise toward long-term equilibrium levels around $60 per barrel

* higher oil prices would reinforce current market trend based on reflation such as rising long-term bond yields

* effort to rebalance oil market is important because it should help support energy companies, risk appetite and reflation trades

* within energy equities, we favor quality and low-cost producers; we prefer inflation-linked bonds to treasuries

* higher oil prices would also reinforce trend of shifting out of perceived safer assets and into cyclical assets

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