The allocation to US equities dropped a huge 27 percentage points to a net 39 percent in January, while that to emerging markets went up 13 percentage points to a net 26 percent overweight (Representative image)
Highlights Bank of America says 'long China equities' is now one of the most crowded trades The U-turn in China’s policies has led to a big improvement in sentiment Global recession fears have receded Peak inflation is behind us The US Fed Funds rate is expected to have a lower terminal rate US monetary policy seen as restrictive On earlier occasions, when recession fears have peaked and monetary policy seen to be restrictive, it has marked a turning point in asset prices Allocation to US equities has...