Fund management giant BlackRock said it is warming up to the European response to the coronavirus outbreak, saying an “impressive array” of fiscal and monetary measures will bridge the economy through the crisis.

The fund manager is maintaining its overweight position in European peripheral government bonds and is considering an upgrade to European equities, according to Elga Bartsch, head of macro research at BlackRock Investment Institute. Europe may outgrow the US in the second half of the year.