A man sits on the Wall street bull near the New York Stock Exchange (NYSE) on November 24, 2020 in New York City.Spencer Platt/Getty Images
The stock market should continue to rise as investor positioning continues to be subdued, according to Bank of America.
The bank highlighted that while active managers are saying they’re bullish on stocks in surveys, their portfolios don’t reflect that view.
Stocks could extend their current bull market until these two things happen, according to BofA.
Hedge funds are saying one thing, but doing another, and that suggests to Bank of America’s Savita Subramanian there is more upside to be had in the stock market until two things happen.
In a Friday note, she highlighted that investor sentiment surveys have shown a noticeable uptick in bullish responses over the past few months as the stock market moved higher. But portfolio positioning data of active investment managers didn’t reflect the increase in bullishness.
“Investor surveys suggests less…
2023-08-25 20:18:58
Source from finance.yahoo.com
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