Survey Shows Fund Managers Are Investing in European Equities

Fund managers’ allocations to euro zone equities have hit pre-crisis levels, amid a rapid shift in sentiment towards the region, according to a survey by Bank of America (BofA) Merrill Lynch.

The bank’s fund manager survey for September revealed that investors’ bullishness towards Europe had offset a continuing sell-off of emerging markets, which have been slammed by uncertainty over the tapering of the U.S. Federal Reserves’ stimulus program.
According to the report, published on Tuesday, allocations to euro zone stocks reached their highest level in September since May 2007. Some 36 percent of global asset allocators were overweight Europe — more than twice August’s 17 percent.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza