EUR/USD
1.17649
0.106%
Gold
4289.92
-0.355%
Oil
55.753
-1.333%
USD/JPY
154.719
-0.312%
GBP/USD
1.34314
0.408%
GBP/JPY
207.814
0.104%
Real-time News
December 16th - According to Bank of Americas latest global fund manager survey, investors reduced their holdings of the euro in December. Investors also reduced their holdings of bonds and healthcare stocks, while increasing their holdings of materials, technology stocks, and US stocks. The survey also showed that a net 13% of investors believe the euro is undervalued, a figure unchanged from the previous months survey.December 16th - A Bank of America global fund manager survey for December showed that most investors expect President Trump to nominate White House economic advisor Kevin Hassett as the next Federal Reserve Chairman. Approximately 69% of respondents anticipated Hassetts nomination, while only 4% mentioned Fed Governor Waller, and another 4% expected former Fed Governor Kevin Warsh to be nominated. This survey was conducted before Trump told the Wall Street Journal that he preferred either Hassett or Warsh to lead the Fed. Current Fed Chairman Jerome Powells term ends next May.December 16th - According to Bank of Americas latest global fund manager survey, the number of investors who believe the US dollar is overvalued increased in December. Approximately 53% of investors believe the dollar is overvalued, compared to 45% in the November survey. The survey also shows that investors are currently underweight on the dollar compared to historical levels. Short positions in the dollar are considered the third most crowded trade. Long positions betting on the rise of the "Big Seven" (including Apple and Alphabet, seven major tech giants) are considered the most crowded trade, followed by long positions in gold.December 16th - A Bank of America global fund manager survey released in December showed that investor optimism about the macroeconomic outlook has reached its highest level since August 2021. The survey found that global economic growth expectations rose to a net 18%, up from a previous net 3%. "Economic expectations are following stock market performance," Bank of America stated. The bank said this optimism stems from strong earnings expectations, which are currently at a net 29%, the highest level since August 2021. 57% of respondents believe the economy will achieve a soft landing—that is, inflation will slow, but the economy will not experience a recession.Mizuho Bank raised its price target for Tesla (TSLA.O) from $475 to $530.
