Everybody is leaning the wrong way....
From Reuters, re BAML survey:
"The percentage of investors expecting higher short-dated interest rates fell to its lowest level since 2008, the survey of 230 panelists with $645 billion in combined assets under management found.
Money managers meanwhile dumped risk: they haven’t been this bearish on stocks since early 2009 when the world was in the throes of a global financial crisis.
Funds’ allocation to global equities dropped by 32 percentage points from May to a net 21% underweight, the lowest allocation to stocks since March 2009 and the second-biggest one-month drop on record."
