The Bank of America "bull & bear" indicator measures market sentiment and is based on a series of technical market measures utilized by analysts at the bank. It remained unchanged last week at a more bearish than bullish at 3.2. A measure of 10 is extremely bullish and 0 is the opposite.
BoA's Global Research report says total cash assets under management hit a "monster" US$7.8 trillion.
- global investors also bought US$13 billion of equity funds and US$9.8 billion of bonds
(numbers to the week ended last Wednesday, report out of Friday)
Adds the report:
- "Financial conditions tightening again in early-Q3, keeps the 'higher-for-longer/hard landing' view entrenched"
