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The excellent Michael Hartnett with his latest.
BofA May Global Fund Manager Survey
Our survey says: investors bearish, Fed done, risk assets resilient so long as the landing is soft; FMS cash levels high 5.6%, allocation to bonds @ 14-year high, to commodities @ 3-year low, BofA Bull & Bear Indicator 3.4…positioning still contrarian +ve for Wall St.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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