If you are a contrarian, your best bet for July would be to go short banks, as a fund managers survey by Bank of America Merrill Lynch revealed there was a record long in global banks in the month.
Contrarian investors should buy US stocks and stay away from Europe, a survey of fund managers by Bank of America Merrill Lynch shows.
US equity allocation fell to its lowest level since January 2008, despite the fact that the S&P 500 hit another record high, according to the survey carried out between May 8 and May 14.
The fall in oil prices has pushed the energy sector to a record underweight, a recent survey among fund managers by Bank of America Merrill Lynch showed.
Investors believe that equities are the most expensive since May 2000, and yet are still crowding into them, a survey by BofA Merrill Lynch Global Research showed.
Eurozone equities have enjoyed a prolonged rally but the party isn’t over yet – at least in the opinion of strategists at Austria’s Raiffeisen bank.