Reported 3 months ago
On July 17, 2024, BofA Merrill Lynch released a survey report showing that nearly 70% of global large fund managers are optimistic about the economy's soft landing and future rate cuts. They continued to increase their stock holdings by a net 33%. Utilities stocks were added for the first time since 2009, with a 2% net increase. Healthcare and technology stocks were the highest net additions by industry. The survey also revealed that managers are positive on bonds, especially high-quality bonds, increasing the net allocation by 31%. Most managers expect a rate cut on September 18 and believe the economy will not fall into recession in the next year. The top risk concern is geopolitical risks, followed by inflation and U.S. economic downturn. Technology stocks are the most crowded trades, followed by shorting the yen. The survey was conducted from July 5-11 and involved 242 managers with $632 billion in assets under management.
Source: YAHOO