Bank of America Survey: The Dollar Faces Its Biggest Bearish Wave in 19 Years

[Bank of America Survey: Dollar Faces Largest Bearish Wave in 19 Years] A global fund manager survey released by Bank of America on Tuesday shows that in May, global fund managers' bearish sentiment towards the dollar reached its highest level since 2006. This reflects that President Trump's chaotic trade policies have weakened investors' interest in U.S. assets. Bank of America stated: "Investor sentiment is low ahead of the Geneva meeting, particularly a pessimistic attitude towards U.S. assets. Although the May survey indicated a slight improvement in market sentiment compared to April, it remains very negative, suggesting that 'pain trades' may rise slightly." The report shows that fund managers reduced their cash holdings from 4.8% to 4.5%, which is typically seen as a signal of increased confidence. However, their reduction in dollar holdings has reached the highest level since May 2006. Bank of America pointed out that 75% of the data in this survey was collected before the Geneva talks. ( Jin10 )