The Republican Party will retake the White House and the Senate, while retaining the House of Representatives, according to BlackRock's chief equity strategist, Bob Doll. That was the tenth in a list of ten predictions Doll makes annually.

Doll's baseline scenario for 2012 is that the global economy continues to grow slowly, with the exception of Europe. He acknowledges that the European debt situation "makes the forecasting exercise especially precarious."

Here are Doll's top 10 predictions.

1. The European debt crisis eases, even as Europe suffers a recession.

2. The U.S. economy continues to muddle through.

3. Despite slowing growth rates, China and India account for more than half of global GDP growth.

4. U.S. corporate earnings grow, but fail to beat estimates for the first time in more than three years.

5. Treasury rates rise and quality spreads fall.

6. U.S. equities give investors double-digit returns as multiples expand modestly for the first time since the Great Recession.

7. U.S. stocks outperform non-U.S. stock for the third year in a row.