The crowd is not always wrong, but it’s not always right, either: Fund managers polled at the start of November have significantly hiked their allocation to equities and cut cash holdings to levels not seen since July, according to research from Bank of America Merrill Lynch.Of the 200 investors managing 6 billion of assets that were quizzed by the bank for its monthly fund manager survey, four-fifths now expect the U.S. Federal Reserve to raise rates this quarter.Some 43 percent of managers are now “overweight” stocks, up 17 percentage points from the previous month.Long dollar is the most crowded trade according to the survey, with 32 percent of the investors polled anticipating further strength in the greenback.
Topics:
WARREN MOSLER considers the following as important: currencies, FED, GDP
This could be interesting, too:
Angry Bear writes First Quarter GDP Growth at 1.6 Percent
Frances Coppola writes The tragedy of Gaza
Steve Roth writes Do We Wildly Underestimate GDP?
NewDealdemocrat writes Q2 GDP indicates continued good expansion now, but more storm clouds gathered ahead
The crowd is not always wrong, but it’s not always right, either:
Fund managers polled at the start of November have significantly hiked their allocation to equities and cut cash holdings to levels not seen since July, according to research from Bank of America Merrill Lynch.
Of the 200 investors managing $576 billion of assets that were quizzed by the bank for its monthly fund manager survey, four-fifths now expect the U.S. Federal Reserve to raise rates this quarter.
Some 43 percent of managers are now “overweight” stocks, up 17 percentage points from the previous month.
Long dollar is the most crowded trade according to the survey, with 32 percent of the investors polled anticipating further strength in the greenback.