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BofA fund manager survey shows "the pain trade for risk assets is still up"

US stocks are set to open higher with S&P 500 futures up 0.5% and Nasdaq futures up 1.0%. Both will be fresh 52-week highs.Stock markets are cheering a benign inflation report and a high likelihood (95% implied) that the Fed will leave rates unchanged tomorrow.Here's what Bank of America's fund manager survey reveals.Bottom line: pain trade for risk assets still up; true FMS cash levels lowest (5.1%) since Jan 22 but investors cut commodities to 3-year lows, still UW stocks, exclusively long IG... Read More

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Posted: Jun 13 2023, 13:20

Author Name: forexlive

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