BofA sees 'toppy' sentiment leading to rotation, not retreat
Cash levels fell to 3.9% in July, a low that triggered an in-house "sell signal" from the investment bank's strategists.
BofA noted that sentiment was getting "toppy," but added fund managers' overweight positioning in stocks was not yet at extreme levels and bond market volatility remained low.
The U.S. bank suggested investors are more likely to stick to a "summer of hedging and rotation" between sectors rather than placing big short bets or making a significant retreat, as "greed is much harder to reverse than fear."
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Fashion United
2 hours ago
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If you have questions or comments about this process email us at info@
The Independent
5 hours ago
- The Independent
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Reuters
5 hours ago
- Reuters
Vespa maker Piaggio's profit falls 42% in first half of 2025
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