Why BlackRock Has Turned Neutral on U.S. Stocks

The video discusses the shifting focus from US markets to European and Japanese markets due to the cyclical restart. While US growth has peaked, Europe and Japan are becoming more favorable for investment. The strategy involves upgrading European and Japanese equities while maintaining a neutral stance on US equities. The potential for European markets to catch up with US markets is highlighted, considering the vaccination progress and its impact on growth. The overall investment environment remains pro-risk, with a focus on above-trend growth and negative real rates.

In what ways do European cyclicals lag behind US cyclicals according to the text?

What is the significance of vaccination progress in relation to the restart story?