🐃 Bank of America notes improved investor sentiment for the first time since June (fund manager survey)
The surveyed managers oversee assets worth $632 billion+.
▫️ Optimism in the markets is driven by expectations of a Fed rate cut.
▫️ Recession remains a key concern, but respondents don't expect it within the next 12 months.
▫️ 79% of fund managers predict a "soft landing."
▫️ Respondents are actively increasing SHORT positions in Chinese stocks and LONG positions in gold.
▫️ 42% of fund managers believe the global economy will NOT grow over the next 12 months.
▫️ Investment in cyclicals and commodities is at a seven-year low.
▫️ 6 out of 10 respondents think the current Fed monetary policy is "too restrictive."
Crypto News by GeorgeG
2September 17, 2024 812
