
BofA Survey: Fund Managers Cut US Dollar Exposure to 2006 Low, Expect 37% Tariffs at US-China Geneva Talks
Global fund managers have reduced their exposure to the US dollar to the lowest level since 2006, according to the latest Bank of America Fund Manager Survey conducted in May. This significant shift in investment strategy comes amidst growing optimism about the global economy, with 61% of fund managers now anticipating a soft landing, up from 37% in April, while expectations for a hard landing have decreased to 26% from 49%. The survey also highlights the sentiment ahead of the US-China Geneva talks, where fund managers expected US tariffs on Chinese goods to be set at 37%. This reflects a cautious approach to trade relations and economic policy between the two nations.
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๐ช๐บ ๐ฒ๐จ๐จ๐ญDan Popescu ๐ซ๐ท๐ฎ๐น๐ท๐ดFund managers most underweight on US dollar since 2006, BofA says https://t.co/5lnVF0EvDA via @Reuters https://t.co/tG43PxpDTO
Menthor QBloomberg: Fund managers were 38% underweight US stocks heading into the trade truce โ now they're the fuel. $SPX is ripping, hedge funds still light, and CTAs underexposed. The pain trade is higher. BofA calls it: โbearish enoughโ to chase https://t.co/gvJE6CDmiC
Markets TodayGlobal Fund Managers Most Underweight #USD In May Since 2006 - #BofA Fund Manager Survey - 61% Of FMs See Soft Landing For The Economy Versus 37% In April; 26% See Hard Landing, Down From 49% In April - Prior To US/China Geneva Talks, FMs Saw US Tariffs On China Goods At 37%
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