Latest news with #EuroStoxxIndex
Yahoo
10-03-2025
- Business
- Yahoo
Balyasny Tops Millennium and Citadel During February Turmoil
(Bloomberg) -- Balyasny Asset Management LP gained the most among the world's biggest multi-manager hedge funds in February as tariff threats and bubbling economic concerns shook markets. Cuts to Section 8 Housing Assistance Loom Amid HUD Uncertainty How Upzoning in Cambridge Broke the YIMBY Mold Remembering the Landscape Architect Who Embraced the City NYC Office Buildings See Resurgence as Investors Pile Into Bonds Hong Kong Joins Global Stadium Race With New $4 Billion Sports Park Balyasny's hedge fund rose 0.9% during the month, according to people with knowledge of the matter. That brings the fund's year-to-date gain to 3.5%, said the people, who asked not to be identified because the results are private. Millennium Management lost 1.3% in February while Citadel fell 1.7%, the people said. By contrast, Singapore-based Dymon Asia Capital saw its multi-strategy fund focused on the region end the month up 1%. All five of Balyasny's strategies were positive in February, according to one of the people. The three strongest performers were its equities, commodities and macro strategies, the person said. Recent economic reports show signs of both stubborn inflation and flagging growth in the US just as President Donald Trump's proposed tariffs add uncertainty to equity markets. The S&P 500 Index fell 1.4% during the month. That extended the US stock gauge's underperformance to the Euro Stoxx Index and the MSCI China Index to more than 10 percentage points in the first two months of the year in dollar terms. The so-called Magnificent Seven stocks that have driven hedge fund returns in recent years are sputtering as investors question their valuations and hefty spending on artificial intelligence. In contrast, European stocks have seen better returns and Chinese equities are surging. The pain of some of the multi-strategy managers was shared by US-focused funds that bet on rising and falling stocks, with Goldman Sachs Group Inc. clients employing that strategy on average down 1.4% in February, the Wall Street bank's prime services team said in a note. By contrast, their Asia peers gained 1.9% on average for the month, while European funds notched up a 0.5% gain. Representatives for the investment firms declined to comment. --With assistance from David Ramli. (Updates with Dymon number in third paragraph, Goldman Sachs notes in seventh) Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? Snack Makers Are Removing Fake Colors From Processed Foods The US Is Withdrawing From Global Health at a Dangerous Time The Mysterious Billionaire Behind the World's Most Popular Vapes Trump's SALT Tax Promise Hinges on an Obscure Loophole ©2025 Bloomberg L.P.
Yahoo
18-02-2025
- Business
- Yahoo
BofA Survey Shows Investors Haven't Been This Risk-On Since 2010
(Bloomberg) -- Global stocks have become the most popular asset class with investors, who are showing the biggest willingness to take risk in 15 years, according to a survey by Bank of America Corp. Why Barcelona Bought the Building That Symbolizes Its Housing Crisis Progressive Portland Plots a Comeback Por qué Barcelona compró el edificio que simboliza su crisis inmobiliaria A Filmmaker's Surreal Journey Into His Own Private Winnipeg Trump Child Refugee Agency Shares Data With Immigration Enforcers Fund managers' cash levels fell to the lowest since 2010, while 34% of participants said they expect world equities to be the best-performing asset in 2025, the survey showed. A net 11% indicated they were underweight bonds. Investors are 'long stocks, short everything else,' strategist Michael Hartnett wrote in a note. The bullishness was underpinned by expectations of robust economic growth and lower US interest rates this year, he said. Global equities have rallied over 60% since a low in late 2022 on optimism around artificial intelligence as well as signs that a US recession had been averted. The rally had been driven by a narrow group of US technology stocks, and investors are now flocking into cheaper European equities. About 89% of respondents in the BofA survey said US equities were overvalued, the most since at least April 2001. The faith in so-called US exceptionalism — where investors bet mainly on American financial markets — has also faltered as investors rotate into European stocks. The Euro Stoxx Index is expected to outperform the US technology-heavy Nasdaq 100 this year, the survey showed. The European gauge has already surged 12% in 2025, while the Nasdaq 100 has advanced 5%. Overall investor bullishness — as a measure of cash levels, equity allocation and global growth expectations — rose to 6.4 from 6.1, although it remains below the 'frothy' levels seen in December 2024. Global recession expectations fell to a three-year low, while about 77% of fund managers expect the Federal Reserve to cut rates in 2025, survey showed. Other key findings in the poll, which was conducted from Feb. 7 to Feb. 13 and canvassed 168 participants with $401 billion in assets: Macro sentiment on China improved for the first time in four months, likely as an impact from AI startup DeepSeek Accelerating growth in China was seen as the most bullish for risk assets in 2025, followed by productivity gains Participants indicated a global trade war and a disorderly rise in bond yields were the most bearish risks Long Magnificent 7 remains the most crowded trade, followed by long US dollar and long crypto --With assistance from Michael Msika. The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory The Unicorn Boom Is Over, and Startups Are Getting Desperate Japan Perfected 7-Eleven. Why Can't the US Get It Right? The Startup That Stepped In When the Baby Formula Supply Chain Broke Before DeepSeek Blew Up, Chatbot Arena Announced Its Arrival ©2025 Bloomberg L.P. Sign in to access your portfolio
