THELOGICALINDIAN - The latest Bank of Americas Global Armamentarium Manager Survey shows that continued bitcoin is now the additional best awash barter Moreover best armamentarium managers accept bitcoin is in a balloon and accede with the Fed that aggrandizement is transitory
Bank of America’s June Fund Manager Survey
Bank of America (BofA) appear its June Global Armamentarium Manager Analysis this week. The survey, conducted amid June 4-10, covers 224 armamentarium managers with $667 billion beneath management.
The armamentarium managers were asked about abounding issues of affair to investors, alignment from area the abridgement and markets are branch to how abundant banknote portfolio managers are captivation and which trades they see as best overdone.
“Long commodities” is now the best awash trade, overtaking “long bitcoin” which is now the additional best awash trade. The third best awash barter is “long tech stock,” followed by “long ESG,” “short U.S. Treasuries,” and “long euro.”
Despite the BTC amount pullback, 81% of the armamentarium managers surveyed still anticipate that bitcoin is in a bubble. This is a slight access from May back 75% of the armamentarium managers surveyed said bitcoin was in a balloon zone. Bank of America itself has additionally warned about the cryptocurrency actuality in a bubble. The bank’s arch advance architect said in January bitcoin was “the mother of all bubbles.”
Meanwhile, 72% of armamentarium managers say that aggrandizement is transitory, accordant with what the Fed has been saying. However, 23% anticipate aggrandizement is permanent. Federal Reserve Chairman Jerome Powell has acclimated the chat “transitory” to call the blackmail of aggrandizement to the U.S. abridgement several times. Nonetheless, a cardinal of bodies accept adumbrated that they disagree with him, including acclaimed barrier armamentarium administrator Paul Tudor Jones and JPMorgan CEO Jamie Dimon.
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