Bank of America's monthly survey showed a record jump into U.S. equities in September while activity in emerging markets dived.
Fund managers made a record jump into U.S. equities in September and out of emerging markets as the risks to the global economy heighten, according to Bank of America ‘s monthly survey Tuesday.
The allocation to U.S. equities gained 29 percentage points in September while the allocation to emerging markets dropped 25 percentage points, the survey showed. Meanwhile, the tech-heavy Nasdaq Composite has jumped 33% as investors have taken bets on the future of artificial intelligence. Hartnett added in his research that the most crowded trades in September have been long big tech and short China Equities.
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