The Wall Street bull statue is pictured in Manhattan, New York. Carlo Allegri | Reuters A closely watched survey of global fund managers registered its lowest cash allocation on record this month, underscoring a bullishness on stocks as the equity market nears the end of a strong year. The average cash allocation level of participants…
Investors are growing increasingly bullish as the stock market rally rolls on to end 2024. In Bank of America’s December Global Fund Manager Survey, 36% of respondents said they’re overweight US equities, the highest level seen in the survey’s history. This large shift into US stocks came alongside a record-low allocation to cash and a…
Relentless rallies in multiple risk assets into the year-end have caused widely followed strategist Michael Hartnett to sound the alarm on a bubble forming. The price of bitcoin soared past the long-awaited $100,000 benchmark for the first time ever late Wednesday evening. Meanwhile, the S & P 500 and the blue-chip Dow notched more record…
Investors are piling into stocks in a way to a degree not seen for more than a decade. Bank of America’s global fund manager survey showed the percentage of portfolio managers who are overweight U.S. stocks soared to 29% — its highest level since August 2013 — from 10% before the U.S. presidential election. Stocks…