BAML Survey Of Asset Managers Says “Boom” Best Describes Market

Asset managers have turned decidedly bullish on the stock market year-over-year, a Bank of America Merrill Lynch report notes. The long-only investors in the survey are questioning the long dollar trade as well as shorting government bonds and they think tax reform will happen, it is just a matter of when.

2016 Hedge Fund Letters

Major asset managers turn bullish

Major asset managers have been deploying cash. The BAML Fund Manager Survey (FMS), released February 14, is a monthly survey of 200-250 primarily long-only investors.  The report showed that major asset managers have been deploying their dry powder, as cash holdings dipped to 4.9% from 5.1%.

The stock market is a...