FMS Investors – Net % Saying Short-Term Rates Will be Lower vs. Higher in 12 Months The odds of a Fed policy pivot in the next 12 months are rising. Image: BofA Global Fund Manager Survey
FMS Investors – What Do You Think Is the Most Likely Reason for the Fed to “Pause” or “Pivot”? Will the Fed pause if U.S. inflation (PCE deflator) drops below 4%? Image: BofA Global Fund Manager Survey
FMS Investors – Net % Rate Liquidity Conditions as Positive Tighter liquidity conditions tend to exacerbate market swings. Image: BofA Global Fund Manager Survey
Equity Markets – Absolute Net % OW (by Sector), FMS Investors Are healthcare, staples and energy the best sectors to invest in right now? Image: BofA Global Fund Manager Survey
Fed Funds Rate Will the federal funds rate peak at 4%-4.25%? Image: BofA Global Fund Manager Survey
Net % of FMS Investors That Are Overweight/Underweight Equities vs. YoY Change in S&P 500 Returns Are FMS investors too pessimistic about global stocks? Image: BofA Global Fund Manager Survey
FMS Investors – Net % Say Value Will Beat Growth Will growth stocks outperform value stocks? Image: BofA Global Fund Manager Survey
Net % OW Equities vs. Net % Expecting Stronger Economy Pessimism about global growth is easing, suggesting a higher net equity allocation. Image: BofA Global Fund Manager Survey
Net % OW Equities FMS investors cut their net underweight in stocks to -26% from -44%. Image: BofA Global Fund Manager Survey
FMS Investors and Risk Level Risk taking by FMS investors is at record low level. Image: BofA Global Fund Manager Survey
Performance – Over the Next 12 Months, Net % FMS Investors Think… Will high quality earnings beat low quality earnings over the next 12 months? Image: BofA Global Fund Manager Survey