Blackrock: Recession is Off the Table; Abandon the Ark

The bullish lads over at Blackrock, whom I often see running about Princeton like muppets with brooms up their backs, suggest that you sell treasuries, abandon the ark, and come to grips with the fact that recession is off the table.

“Economic indicators this week may show the U.S. economy experienced a mild slowdown but is not headed for a recession,” Richard Turnill, the global chief investment strategist, wrote in a report Monday on the company’s website. Investors should have an “underweight” position in Treasuries, according to the report. New York-based BlackRock manages $4.6 trillion.

Saying to underweight treasuries is code talk for get long stocks.