🐃 Bank of America Sees Investor Sentiment Improve for First Time Since June (Fund Manager Survey)
The managers surveyed manage assets worth $632,000,000,000+.
▫️Optimistic sentiment in the markets is caused by expectations of a Fed rate cut.
▫️Recession is still one of the main fears of investors, but those surveyed do not expect it in 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 are confident that the global economy will NOT grow over the next 12 months.
▫️Investments in cyclical and raw materials are at a seven-year low.
▫️6 out of 10 respondents believe that the Fed's current monetary policy is "too restrictive."
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