{"id":64689,"date":"2017-07-21T00:25:48","date_gmt":"2017-07-20T22:25:48","guid":{"rendered":"http:\/\/beta.next-finance.net\/news\/bofa-merrill-lynch-july-fund-manager-survey-finds-cash-is-king-as-investors-walk-the-line\/"},"modified":"2017-07-21T00:25:48","modified_gmt":"2017-07-20T22:25:48","slug":"bofa-merrill-lynch-july-fund-manager-survey-finds-cash-is-king-as-investors-walk-the-line","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/news\/bofa-merrill-lynch-july-fund-manager-survey-finds-cash-is-king-as-investors-walk-the-line\/","title":{"rendered":"BofA Merrill Lynch July Fund Manager Survey finds cash is king as investors walk the line"},"content":{"rendered":"<ul>\n<li> Average cash balance dips to 4.9% from 5.0% last month, still above the 10-year average of 4.5%; investors note they are overweight cash due to their bearish view on the markets (25%) and preference for cash over low-yielding assets (20%)<\/li>\n<li> Net percentage of investors surveyed who say global monetary policy is \u201ctoo stimulative\u201d continues to climb (net 48%), the highest number since April, 2011<\/li>\n<li> Investors consider a crash in global bond markets (28%) and a policy mistake by the Fed\/ECB (27%) to be the biggest tail risks to the market<\/li>\n<li> The impact of the Fed balance sheet reduction in 2017 will be a non-event, say 42% of investors surveyed; 31% see it as a risk-off event, sending yields up and stocks down<\/li>\n<li> Expectations that corporate profits will improve falls to net 41%, the lowest level since the US election; regarding earnings, net 22% of investors surveyed do not see a substantial improvement over the next 12 months<\/li>\n<li> Long Nasdaq tops the list for the third month in a row when fund managers are asked about the most crowded trade, holding steady at 38% <\/li>\n<li> Allocation to US equities falls to net 20% underweight; the last time investors were more underweight US stocks was in January, 2008<\/li>\n<li> Investors are becoming skeptical about further improvements in Europe: net 51% expect the European economy to strengthen over the next 12 months, down from net 61% last month<\/li>\n<li> Japan equity allocation rises sharply to net 18% overweight, from just net 1% overweight last month <\/li>\n<\/ul>\n<p><em>\u201cFund managers\u2019 biggest fears are a shock coming from bond markets or central banks,\u201d<\/em> said Michael Hartnett, chief investment strategist <em>\u201cToo many investors see the Fed as a likely negative catalyst.\u201d<\/em><\/p>\n<p>Ronan Carr, European equity strategist, added that, <em>\u201cinvestors expect Eurozone inflation to rise and find monetary policy too stimulative, putting the ECB\u2019s signalling powers to the test.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to BofA Merrill Lynch July Fund Manager Survey, average cash balance dips to 4.9% from 5.0% last month, still above the 10-year average of 4.5%; investors note they are overweight cash due to their bearish view on the markets (25%) and preference for cash over low-yielding assets (20%)<\/p>\n","protected":false},"author":20,"featured_media":64687,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1655,1671,1651,1437,2007,1999,2103],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/64689"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=64689"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/64689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/64687"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=64689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=64689"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=64689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}