A snippet on Bank of America's most recent monthly Global Fund Manager Survey (FMS)
- fund managers are the ‘most upbeat’ since Jan' 2022 ... “December FMS investor sentiment improved to its least bearish level since January 2022"
- managers are anticipating an economic soft landingnext year
- “December FMS investor sentiment improved to its least bearish level since January 2022"
- more than half expect weaker global growth, but 70% see a “goldilocks” scenario and are thus switching out of cash (lowest overweight to cash since April 2021) into equities, holding on to "Magnificent Seven" tech stocks, increasing holdings of banks and small-caps
