| 2017-07-17 08:46:31|
BLK 08:46 07/17 07/17/17
BlackRock CEO says markets have been 'resilient' to political shocks
Says significant cash remains on the sidelines, but notes that "investors have begun to put more of their assets to work," global equity markets continue to rise. Sees planned G&A expense for 2H $750M. Says committed to reinvesting in business, returning excess cash to shareholders. Says "stands by" previous guidance for share repurchases for remainder of year. Says that so far, "markets have been resilient to political shocks." Says negative yields remain "a reality" in some country. Says insurance companies facing challenges in this low yield environment. Comments taken from the Q2 earnings conference call.