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,...
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Initial FOC of 0.6%