Bank of America’s April global fund manager survey shows extreme pessimism in the market with investor cash balances rising to 5.9% in April, the highest since the 9/11 terrorist attack. A contrarian “buy” signal is generated for stocks when the average cash balance rises above 4.5%, and a contrarian “sell” signal is generated when it falls below 3.5%, according to Bank of America. The US stocks have witnessed a solid recovery rally over the last three weeks, largely due to Federal Reserve’s multiple liquidity injections. As of Wednesday, the S&P 500 index was up more than 25 percent from the multi-year lows observed on March 24. With the fund manager survey indicating extreme pessimism, the recovery rally in stocks looks set to continue. That will likely strengthen the offered tone around the traditional safe haven assets like yen, gold and treasuries. 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 USD/CAD Price Analysis: 1.3810 remains on the sellers’ radars FX Street 2 years Bank of America's April global fund manager survey shows extreme pessimism in the market with investor cash balances rising to 5.9% in April, the highest since the 9/11 terrorist attack. A contrarian "buy" signal is generated for stocks when the average cash balance rises above 4.5%, and a contrarian "sell" signal is generated when it falls below 3.5%, according to Bank of America. The US stocks have witnessed a solid recovery rally over the last three weeks, largely due to Federal Reserve's multiple liquidity injections. As of Wednesday, the S&P 500 index was up more than 25 percent from the… 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.
