Investors reduced allocations to stocks, moved to cash in August, BofA survey shows
LONDON - Investors' increased their allocations to cash and reduced their an overweight position in stocks in August, as expectations for global growth dropped to its lowest in 8 months, a BofA survey of fund mangers published on Tuesday showed.
According to the survey, 31% of respondents said they were overweight stocks in August, down from 51% in July, while their average cash level was 4.3% of their assets under management, up from 4.1% a month before. BofA attributed the shift to weak U.S. payrolls data for July, and the volatility shock associated with the rebound in the yen.A net 47% of survey respondents expect a weaker global economy in the next 12 months, down 20 percentage points from July.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BofA survey: 55% of investors think Fed will cut twice this yearBofA survey: 55% of investors think Fed will cut twice this year
Read more »
“First ever Bolivian Fest DC Saturday, August 3 + Casa Kantuta returns Thursday, August 8”Welcome to the beautiful life
Read more »
Weekly Horoscope: August 11 - August 17See what this weekly horoscope has in store for you, and why you should tread lightly this week in your relationships.
Read more »
August celestial events: Why the first week of August is a good time for stargazingDiscover why the first week of August is ideal for stargazing. Explore the new Moon, the Perseid meteor shower, and other celestial events that make this month perfect for skywatching.
Read more »
Rick and Morty: The Anime‘s Creators on How Their Show Is Different From the OriginalThe new series premieres August 15 on Adult Swim; a Japanese language version arrives August 17.
Read more »
Lollapalooza 2024: Here's what you need to knowThe four-day festival runs from August 1 to August 4 in Chicago's Grant Park.
Read more »