Fund managers most underweight U.S. stocks since '05 - BofA survey

seekingalpha2023-01-17

Money managers have not been this pessimistic on U.S. stocks in more than 17 years, but global recession fears have peaked, according to the latest survey by BofA Securities. The January Fund Manager ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2304652885?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/462756183/image_462756183.jpg","is_english":true,"pubTime":"2023-01-17 21:35","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2304652885","market":"us","top_or_hot":-1,"title":"Fund managers most underweight U.S. stocks since '05 - BofA survey","media":"seekingalpha","content":"<div>\n<p>Money managers have not been this pessimistic on U.S. stocks in more than 17 years, but global recession fears have peaked, according to the latest survey by BofA Securities. The January Fund Manager ...</p>\n\n<a href=\"https://seekingalpha.com/news/3924894-fund-managers-most-underweight-us-stocks-since-2005\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fund managers most underweight U.S. stocks since '05 - BofA survey</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFund managers most underweight U.S. stocks since '05 - BofA survey\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-01-17 21:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3924894-fund-managers-most-underweight-us-stocks-since-2005><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Money managers have not been this pessimistic on U.S. stocks in more than 17 years, but global recession fears have peaked, according to the latest survey by BofA Securities. The January Fund Manager ...</p>\n\n<a href=\"https://seekingalpha.com/news/3924894-fund-managers-most-underweight-us-stocks-since-2005\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EEM","symbol_name":"新兴市场ETF-iShares MSCI","start_time":0,"source_url":"https://seekingalpha.com/news/3924894-fund-managers-most-underweight-us-stocks-since-2005","article_id":"2304652885","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/462756183/image_462756183.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2304652885","pubTimestamp":1673962521,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Money managers have not been this pessimistic on U.S. stocks in more than 17 years, but global reces","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"EEM":"新兴市场ETF-iShares MSCI","XLI":"工业指数ETF-SPDR","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","XLK":"高科技指数ETF-SPDR","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BNDW":"Vanguard Total World Bond ETF","JNK":"债券指数ETF-SPDR Barclays高收益债","TLT":"20+年以上美国国债ETF-iShares","BGRN":"iShares USD Green Bond ETF","XLU":"公共事业指数ETF-SPDR","LQD":"债券指数ETF-iShares iBoxx投资级公司债","ESGU":"iShares ESG Aware MSCI USA ETF","SPEU":"SPDR Portfolio Europe ETF","XLV":"健康照护类股ETF-SPDR","UUP":"美元ETF-PowerShares DB","BK4550":"红杉资本持仓","TBT":"债券20+美国债指数ETF-ProShares两倍做空","URTH":"iShares MSCI World Index Fund","MCHI":"中国ETF-iShares MSCI","BK4552":"Archegos爆仓风波概念","GS":"高盛","BK4561":"索罗斯持仓","SNPE":"X-trackers S&P 500 ESG ETF","SHY":"债券指数ETF-iShares Barclays 1-3年国债","BK4581":"高盛持仓","BK4504":"桥水持仓","XLC":"Communication Services Select Sector SPDR Fund","BK4127":"投资银行业与经纪业"},"translate_title":"基金经理2005年以来最多的跑输大盘美股——美国银行调查","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"JNK":1,"XLV":1,"XLU":1,"XLK":1,"XLI":1,"XLC":1,"UUP":1,"URTH":1,"TLT":1,"TBT":1,"SPEU":1,"SNPE":1,"SHY":1,"MCHI":1,"LQD":1,"BGRN":1,"ESGU":1,"EEM":1,"BNDW":1,"GS":0.67},"content_text":"Money managers have not been this pessimistic on U.S. stocks in more than 17 years, but global recession fears have peaked, according to the latest survey by BofA Securities. The January Fund Manager Survey of 286 panelists with $772B in assets under management out Tuesday showed the biggest Underweight on U.S. stocks since October 2005. But while \"the humans are still bearish\" they are \"a lot less bearish than in Q4,\" with optimism on China and the Fed pushing cash levels down to 5.3% from 5.9%, the biggest drop since June 2020, strategist Michael Hartnett wrote in a note. Fund managers are overweight cash (VMFXX) and bonds (SHY) (TBT) (TLT) (JNK) (LQD) (BNDW), but are underweight global stocks (URTH). January saw rotation into emerging markets (EEM) to their biggest Overweight since June 2021 and cash also moved into eurozone stocks (SPEU), the first Overweight since February 2022, Utilities (XLU) and Industrials (XLI) and out of Healthcare (XLV) and Tech (XLK) (XLC), Hartnett said.  Recession fears peak \"Expectations of recession peaked in Nov’22 at 77% and have fallen to 68% in the Jan FMS,\" Hartnett said. \"Note prior peaks in recession fear were big turning points in asset prices.\" Fund manager year-end targets are 3.6% for the 10-year Treasury yield (US10Y), S&P 500 (SP500) (NYSEARCA:SPY) at 3,900 and bitcoin (BTC-USD) at $15,500. The top three tail risks remain the same, with inflation remaining high at the top with 34%, followed by a deep global recession at 20% and central banks staying hawkish at 19%. Among the most crowded trades identified, long U.S. dollar (DXY) (UUP) is still at the top and long ESG assets (BGRN) (SNPE) (ESGU) is second. But long China equities (MCHI) is a new entrant in the third spot. See Goldman Sachs' top picks for return on equity.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2304652885"}