Allocations finally catch up with improved sentiment
The latest Merrill Lynch fund manager survey shows that investors are putting their cash to work as optimism about the global economy reaches its highest level since 2003.
Investor optimism about the global economy has soared to its highest level in nearly six years, with portfolio managers putting their cash back into equity markets, according to the latest Merrill Lynch survey of fund managers for August.
A net 75% of survey respondents believe the world economy will strengthen in the coming 12 months, the highest reading since November 2003 and up from 63% in July. Confidence about corporate health is at its highest since January 2004. A net 70% of the panel respondents expect global corporate profits to rise in the coming year, up from 51% last month.
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