BofAML survey: Global equity allocations fall to lowest since November 2016 on trade war fears

Sentiment bearish

Investor sentiment is bearish this month, according to the Bank of America Merrill Lynch (BofAML) July Fund Manager Survey, as concerns grow about the rising threat of a trade war, a central bank policy error and a debt crisis in Europe or emerging markets.

The survey of 231 managers, conducted between 6 and 12 July, found allocations to global equities fell 14 percentage points (ppt) to net 19% overweight, the lowest level since November 2016. In particular,...