Yesterday, a survey of fund managers conducted by the Bank of America concluded that investor sentiment was shattered in March, as growth expectations fell at the largest monthly pace in the survey history of 26 years ago. Cash holdings increased to an average of 5.1 percent from four percent in February, in light of a record collapse in equity allocations, led by euro zone and emerging market stocks. The survey, which was conducted between the sixth of March and the twelfth of it, and deals with the views of investors who manage $ 516 billion, that the bank’s index “bull and bear”, which measures sentiment, fell to 1.7 from 2.5 in February.
Investment in banking sector shares was at the lowest level since July 2016, while relatively safe sectors such as utilities and health care were the most popular since early 2009. (Reuters)