Market bullishness returned with a vengeance this month, according to Bank of America Merrill Lynch’s monthly fund manager survey. Yet some individual allocation experts remain cautious amid the prevailing economic and geopolitical uncertainty.
BAML's closely watched poll findings, released November 12, indicated an overarching risk-on sentiment.
“The bulls are back,” said Michael Hartnett, the bank's chief investment strategist. “Investors are experiencing 'Fomo' the fear of missing out which has prompted a wave of optimism and jump in exposure to equities and cyclicals.”
Allocations to global equities shot up 20 percentage points month-on-month to...