Market positioning suggests more pain for equities despite rout – BofA

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Reuters UK

By Saikat Chatterjee LONDON (Reuters) – A market trends indicator by BofA Securities fell to zero for the first time since the pandemic-induced mayhem in financial markets in 2020, signalling extreme bearishness as investors dumped credit and crypto assets. Though U.S. stocks confirmed a bear market this week that began in January this year and many other stock markets in Europe are already down more than 20% from their highs this year, equity positioning remains heavy, signalling more pain ahead for investors. In a weekly note on investment flows for various asset classes, the U.S. investment…

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