: Cash allocation jumped to a seven-month high, according to a Bank of America Corp. survey, according to Bloomberg. The most loved among investors only a few weeks ago, European stocks are now being shunned by those who are still waiting to see tangible signs that the region central-bank stimulus will lead to earnings growth. As the Stoxx Europe 600 Index heads for its first back-to-back weekly losses since the beginning of the year and bond volatility surges, traders are opting to take their profits and wait it out. Dirk Thiels at KBC Asset Management went underweight equities last week. A lot of people jumped on the QE bandwagon and are beginning to realize that that not going to take us much further. The market is suffering from vertigo -- the gains we achieved by April were unsustainable, he said from Brussels.
(news.financializer.com). As
reported in the news.
Tagged under , topics.