Manager exposure to REITs is now at “Lehman levels” despite sentiment improving considerably in August, the Bank of America Global Fund Manager survey revealed.
Cash levels in portfolios have plunged to a 21-month low, falling from 5.3% to 4.8% in a month, as the survey reported its least bearish views since February 2022. 'Big Short' Michael Burry bets against S&P 500 and Nasdaq Three in four managers now expect either a soft landing or ‘no landing', as 42% said recession was "unlikely" over the next year, the most since June 2022 and down from just one in ten in November last year. Looking further ahead, 31% now expected no recession over the next 18 months, up from 19% in July and 14% in June. Only 45% of managers were now ex...
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