Fund managers are showing signs of 'irrational exuberance' by increasing their overweight global equities positions and decreasing cash weightings, according to the latest Bank of America Merrill Lynch (BofAML) survey.
The November survey, which consisted of 209 panellists, found allocations to global equities had increased to net 49% overweight, the highest level since April 2015. Furthermore, average cash balances...
The outperformance of emerging markets that began in January 2016 and extended through the rest of that year and 2017 has continued in the first months of 2018. Perhaps the most important driver behind this sustained strength - the first consecutive years...
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