Just some further details from the MNI Bank of America fund managers survey courtesy of our chums at Livesquawk
- 4% of investors are overweight Eurozone equities (18% prior)
- Investors losing appetite for EM’ and EU stocks in favour for US and Japanese equities
- They see Japan inflation expectation rising to 46% (18%) over the next year
- Bearish JPY, EUR
220 panelists with $640bn in assets on the books took part in the survey between Oct 3rd-9th.
Once again the market herd mentality speaks and you’ve got to ask whether they have done all their selling? It’s likely we might get a pause in the rout but I’m not sure we’ll see a return to the highs anytime soon.
