NEW YORK :
Too many investors have piled into U.S. technological know-how shares, producing the sector the most “crowded trade” of all time and tricky to unwind, even though a tech bubble is the most important risk soon after an predicted next wave from the COVID-19 pandemic, a BofA Securities survey of fund administrators reported on Tuesday.
Institutional investors are “rotating” into cyclical stocks and not “chasing” momentum considering that the rally from March lows, even though a majority now say there is certainly a new bull market as opposed to a single-quarter in Might, the study identified.
A credible COVID-19 vaccine will most probable induce higher bond yields, 41% of respondents mentioned in the survey executed Sept. 3 by Sept. 10, though 37% stated they count on a vaccine announcement in the 1st quarter of 2021.
There were 199 respondents to the international survey and 90 who responded to a regional study, Bank of The us said.
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