BofA's Fund Manager Survey shows allocation to tech lowest since 2006
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BofA says clients are selling Energy stocks, sector remains 'historically cheap'
November 15, 2022 8:13 AM ESTNo recent love for Energy, is how Bank of America equity strategist Jill Carey Hall described the recent outflows from this sector. Alongside Industrials, Energy has the longest selling streak this year (late May to late August).
Last week, when the S&P 500 closed nearly 6% higher, BofAs clients... More
JPMorgan's Kolanovic trims Overweight in stocks amid 'elevated recession risks'
November 15, 2022 5:52 AM ESTMarko Kolanovic, the chief global markets strategist at JPMorgan, told clients to use the ongoing rally in U.S. equities to reduce exposure as recession risks are still elevated.
While the soft October CPI print increased the chances of a soft landing scenario, Kolanovic argues that it will be... More
Risk-on rally is 'likely overdone', tech stocks are still expensive - Goldman
November 15, 2022 5:18 AM ESTGoldman Sachs strategist Cecilia Mariotti believes the risk-on rally is likely overdone after the S&P 500 rallied about 15% off its recent lows.
The rally in risky assets was fueled by a softer-than-expected CPI print on Thursday while the U.S. dollar and rates fell sharply. Mariotti reminds clients that sharp bear market rallies are not uncommon while extremely bearish... More
