Reported 8 months ago
A report from Bank of America Merrill Lynch managers' survey in June 2024 revealed that global fund traders are optimistic, with sentiment reaching a high not seen since November 2021. Managers continue to increase stock holdings, with a 39% net increase in stock allocations and cash levels at a three-year low. Notably, the highest net increase in holdings was seen in medical and technology sectors, with a 20% net increase in technology stocks. The survey also indicated expectations of multiple interest rate cuts in the coming year, with a majority predicting the first cut by September 18. Traders are bullish on US stocks and recommend a strategic focus on technology, bank stocks, and high-quality bonds for potential growth opportunities.
Source: YAHOO