“Investor sentiment is clearly bullish,” according to Bank of America’s survey of global managers conducted earlier this month. They are 69% in net, an unprecedented level, to anticipate growth and inflation above their trend. In this context, asset managers logically favor commodities, banks, industrial stocks …
Inflation is again the most important risk for the markets, followed by the reversal of the monetary policy of the central banks and the existence of a bubble in the markets. The Covid comes only in fourth position.
The average level of liquidity in their portfolios remained stable at 4%.
source: AOF
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