Lates News

A global fund manager survey released by Bank of America on Tuesday showed that in May, the bearishness of global fund managers towards the US dollar reached its highest level since 2006. This reflects the fact that President Trump's chaotic trade policy has weakened investors' interest in US assets. Bank of America stated: "Investor sentiment, especially towards US assets, was pessimistic before the Geneva meeting. Although the May survey showed a slight improvement in market sentiment compared to April, it still remains very negative, indicating that 'pain trades' may increase slightly." The report showed that fund managers reduced their cash holdings from 4.8% to 4.5%, which is usually seen as a signal of increased confidence. However, their reduction in holdings of the US dollar has reached its highest level since May 2006. Bank of America pointed out that 75% of the data in this survey was collected before the Geneva talks.