LONDON, Jan 17 (Reuters) – Fund managers’ allocation to U.S. equities collapsed in January and a web 39% mentioned that they had an underweight place, essentially the most since October 2005, a BofA survey of world investor views printed on Tuesday confirmed.
Financial institution of America’s world Fund Supervisor Survey confirmed buyers turned bullish on euro zone equities, flipping their allocation to a 4% web obese place in January from a ten% web underweight in December.
Fund managers additionally moved into rising market shares, growing their web obese to 26%, the very best since June 2021.
The survey additionally confirmed yen appreciation expectations at their highest stage since January 2007, the month earlier than the Financial institution of Japan final raised its base rate of interest. The BoJ meets on Wednesday and expectations have risen that the central financial institution may quickly change its curiosity coverage.
International development optimism hit a one-year excessive, whereas inflation expectations have peaked, in line with the survey of fund managers who’ve mixed property beneath administration of $772 billion.
Reporting by Samuel Indyk; Enhancing by Dhara Ranasinghe
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