Bank of America Survey: In a special segment aired on Zee Business, Senior Analyst Varun Dubey discussed the fund manager’s survey done by the Bank of America (BoFA) which was conducted earlier this month. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

According to the survey, 85 per cent of the fund managers believe that in 2023, there will be a decline in inflation, while 92 per cent believe that stagflation will remain constant. Further the report stated that bond deals will also be on decline in 2023 which according to Varun, is an indication that the market has already bottomed out. 

Click here to get more information about dividend stock 

According to the BoFA survey, fund managers are bullish on US dollars, crude Oil and Treasury bills. On the other hand, they are bearish on China and the European equity market. The report further states that fund managers are in favour of the energy sector. It also said that they want to stay away from the Technology sector since 2006.   

Bank of America Fund Managers' Survey released in October  

According to the October survey, fund managers had the highest amount of investor cash to deploy in two decades.

BoFA had said that the Fund Managers' Survey had screamed macro capitulation, investor capitulation, start of policy capitulation.

The global fund managers’ survey released last month showed the average cash level in investors' portfolios was 6.3 per cent, the highest since April 2001 and above the long-term average of 4.8 per cent. The rate rose from 6.1 per cent in September.

Click here to get more stock market updates I Zee Business Live