Fund managers are underweight cash for the first time since May 2013, the latest Bank of America fund manager survey has found, warning of overexuberance on Wall Street and potential for a pullback. Average cash levels in portfolios have dropped to 4%, triggering a “sell signal” according to BofA strategists. In the past, such low levels of cash holdings have paved the way for a negative 3.2% return in the S&P 500 over a one-month time horizon. According to the survey, fund managers are buying up stocks in the hopes of global economic recovery on potential coronavirus vaccines. “Many more investors say the global economy is in an early-cycle phase (70%, highest since January 2010) as opposed to recession (12%), which as seen in 2009 & 2012 is a key recovery milestone,” BofA writes. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/JPY eases from one-week top towards 139.00 amid cautious markets FX Street 2 years Fund managers are underweight cash for the first time since May 2013, the latest Bank of America fund manager survey has found, warning of overexuberance on Wall Street and potential for a pullback. Average cash levels in portfolios have dropped to 4%, triggering a “sell signal” according to BofA strategists. In the past, such low levels of cash holdings have paved the way for a negative 3.2% return in the S&P 500 over a one-month time horizon. According to the survey, fund managers are buying up stocks in the hopes of global economic recovery on potential coronavirus vaccines. "Many more investors say the global… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
