GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

    Share
•        FMS cash down to 3.9% as 72% say inflation 'transitory', 68% say no recession 'til '24, 57% say any equity correction <10%
•        FMS bond allocation @ 3-year low, commodities most 'crowded trade', banks biggest sector OW, and tech catches a bid
•        Contrarian says growth transitory, inflation permanent; long bonds, EM, utilities, short commodities, Europe, banks
 
 
BofA June Global Fund Manager Survey takeaways
 
FMS bottom line: investors bullishly positioned for permanent growth, transitory inflation & a peaceful Fed taper via longs in commodities, cyclicals & financials. 
FMS on Macro: 72% say inflation is transitory, 23% say inflation is permanent; FMS shows growth & EPS expectations have peaked but investors say investment cycle transitioning from early to mid-cycle (68% don't expect recession until 2024 at earliest). 
 
FMS on Policy: 63% expect Fed to signal taper Aug/Sept; US infrastructure hopes dip to $1.7tn (was $1.9tn); expectations for steeper yield curve lowest since Aug'20. 
 
FMS on Risk: cash levels down to 3.9% from 4.1%; BofA Bull & Bear Indicator @ 6.5; 57% say any equity correction likely <10%; inflation/taper tantrum tied for #1 tail risks. 
 
FMS on AA: allocation to bonds at 3-year low (net -69%), to stocks back up to YTD highs (61%), to commodities high & steady (27%); note long commodities overtakes long Bitcoin as most 'crowded trade'. 
 
FMS on Sectors & Regions: banks #1 sector OW, chunky cyclical (materials, industrials, UK, Eurozone) positioning persists (Chart 1), but tech saw largest June jump in exposure, while defensives exposure cut again (UW in Utilities largest since Feb'17); asked what performs best next 4 years FMS investors say (barbell of) value stocks & tech stocks. 
 
FMS Contrarians: contrarian says 'growth transitory, inflation permanent' played via long bonds-short commodities, long EM-short Eurozone, long utilities-short banks. 



Posted by : GoDubai Editorial Team
Viewed 2952 times
Posted on : Tuesday, June 15, 2021  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : MRO Middle East Demonstrates Positive Outlook for Aviation Sector Recovery in the Region
Next Story : Dubai Chamber Unveils Impact of Give and Gain 2021 initiative
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Aesop's Parsley Seed Essentials - Your New Skincare Routine Favourites
British-Born MG Motor Gains in Popularity during the first half of 2021 in the M...
Standard Chartered Global Focus Q3 2021: Navigating a Vulnerable Recovery
Time with Michael Phelps
You Know About the Diamond 4cs, but There Is Another ‘c' You Should Know About —...
Back to the Office with CATRICE
Sony Middle East & Africa Introduces the New Interchangeable-Lens Camera Alpha Z...
Take Advantage of Jewellery Surprises at Malabar Gold & Diamonds before it ends
Samsung Announces Exclusive Odyssey G9 Curved offer for UAE Consumers through th...
FW 21 WEEKEND / MAX MARA
Al Fardan Exchange Joins Forces With Empay's Contactless Ecosystem in Landmark D...
MAX&Co. FW21
Dubai-Based King Group Hospitality Expands Portfolio that will Boost UAE's Dh55 ...
SEHA Introduces Specialized Saturday Clinics Across the Network
ADU Welcomes more than 50 High School Students to the “ESTEDAD” Enrichment Bootcamps
Zoho to make Zoho Invoice Free of Charge to Empower SMEs to Rebuild and Grow
Push Start! - OMEGA
11th Edition of SIAL Middle East and Abu Dhabi International Date Palm Exhibitio...
ABB to Present Sustainable Solutions at Dubai EXPO 2020
Live from BMW Welt: The Esports Industry Assembles Virtually at BMW Esports Boos...
Thought Series – The “True Knowing” and “Genuinely Being” Syndrome
McLaren Racing Launches Multi-Year Partnership with Stanley Black & Decker
Jaguar Racing ‘Clones' Takeover Iconic London Underground Ahead of Heineken Lond...
Over 300 Aster Doctors honoured with UAE's Golden Visa
Empower Awards Construction Contract Worth AED 133 Million for its 32,000 RT Dis...
Emirates Integrated Telecommunications Company Reports Q2 2021 results
What Colour Is Your Summer? - RADO
Breathe Easy with the New Ranges from Crate & Kids
Dubai's Best Activities for Summer 2021
My Take On FTH's Vegan Meat Range From Future Farms
Early Detection is Key to Treatment of Hepatitis: says MoHAP on World Hepatitis Day
EAD and Wetlands International Launch a New Online Portal for the World's Waterb...
Under the Directives of His Highness Sheikh Saud bin Saqr Al Qasimi, Ras Al Khai...
Sharjah Chamber, South Korea Explore Fostering Economic Ties
Galaxy Ecosystem Excellence Emphasized through the Galaxy Tab S7 FE's Brilliance
Union Coop Holds 4 Virtual Training Courses for 350 Employees
Dubai Summer Story Contest Challenges Creatives to Produce Ultimate DSS Video an...
Hyundai Motor Group Honorary Chairman Mong-Koo Chung Inducted Into Automotive Ha...
Priorities for UAE HR Professionals: Digitization, Talent, and the Future of Wor...
Updates for BMW R 18 and R 18 Classic
4 Memorable Holiday Ideas For Eid-Al-Adha
Nikai Launches First WebOS TV in the UAE; Revolutionizing the TV Viewing Experience
Airbus Reports Half-Year (H1) 2021 Results
Samsung's 2021 The Wall is Now Available Worldwide
Middle Eastern Medical Students at St. George's University Secure US Residencies
NOW OPEN: Union Coop's New Branch in Jumeirah 1
Chocolate Chip Week Is Back at Denny's
The Next Era of Smartphone Innovation is About to Unfold
Dubai Islamic Bank First Half 2021 Group Financial Results
Commvault Announces Fiscal 2022 First Quarter Financial Results