> Long US dollar remains most crowded trade - BofA fund manager survey

Long US dollar remains most crowded trade - BofA fund manager survey

Sentiment is still bearish and not convincing enough for an immediate reversal, according to the survey

Tuesday, 16/08/2022 | 10:12 GMT

Investor sentiment remains bearish in August
But no longer "apocalyptically bearish" on hopes inflation, rates shocks may end in coming quarters
Long USD remains the most crowded trade
Uninvested cash levels drop to 5.7% from 6.1% in July, but "still very high"

Some findings from the latest BofA global fund manager survey for August. Interestingly, most respondents noted that current sentiment is still too bearish for an immediate reversal and that they remain "patient bears". Besides that, the fact that investors are still staying long the dollar is a testament to overall market sentiment as recession risks are heightened and the Fed pivot is a no go just yet.