This translation has been automatically generated and has not been verified for accuracy.A whopping 98% of investors surveyed by Bank of America believe markets are “overvalued” after world stocks bounced back from March lows at a record pace driven by government stimulus measures.
The euphoria led to investor cash levels dropping to 4.7% in June from 5.7% last month, the biggest monthly drop since August 2009, BofA’s survey of 212 fund managers with $598 billion in assets under management showed.The drawdown was also partly supported by easing worries about a longer economic hit -- a net 46% of participants in the survey expected a prolonged recession versus 93% in April.
Indeed, stocks and oil briefly came under pressure on Monday after several districts of Beijing closed schools and ordered people to be tested after an unexpected rise in infections.
globeinvestor Why put the link to the article if only subscribers can read it?
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CTVNews - 🏆 1. / 99 Read more »
Source: globeandmail - 🏆 5. / 92 Read more »
Source: globeandmail - 🏆 5. / 92 Read more »
Source: CTVNews - 🏆 1. / 99 Read more »