Investors are expecting a pullback for stocks before year-end, Deutsche survey shows

The S&P 500 is up about 18% since the start of the year, the tech-focused Nasdaq is also higher by about 19% over the same period. And, in Europe, the Stoxx 600 has risen 17% since January.Respondents in the survey said that the Covid-19 pandemic is still their top concern going forward, but higher-than-expected inflation came second.

Its monthly poll, conducted in early September and covering over 550 market professionals worldwide, showed that 58% of respondents are expecting a correction between 5% and 10% before the new year. In addition, 10% of other respondents expect a correction higher than 10%., off the back of a rally for speculative tech names.

I call B.S.

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