One in three investors believe US stocks have already peaked, according to the latest monthly Bank of America Merrill Lynch global research report, although investors continue to increase their exposure to the region.
The survey of 225 fund managers globally, carried out between 2-8 November, found the majority of respondents expected the S&P 500 to peak at a weighted average of 3,056. As of 13 November, it was trading at 2,726. Over one year, the S&P 500 has risen 7.5% while the tech-heavy Nasdaq is up 7.7%. This compares to losses of 0.7% by the UK's FTSE 100. However, one in three (30%) survey respondents felt US equities, which have risen sharply this year - particularly in the technology space, have already peaked, almost double the number from last month (16%). What is the outlook f...
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