BofA fund manager survey: Key charts that highlight a big shift in views

The March Bank of America Fund Manager Survey highlighted the big re-think ongoing over the crowded trade in Mag7 and US stocks in general.

I have some of the charts below but the themes are clear:

• The US is out and the rest-of-the-world is in
• a net 39% of respondents overweight European stocks, up from 12% last month-the highest level since mid-2021
• Recession fears based on trade are high
• Growth expectations are falling in the US
• More than two thirds of respondents, or 68%, expect two or three rate cuts this year, up from 51% in February, the survey says.

This article was written by Adam Button at www.forexlive.com.