美国银行的Michael Hartnett表示,全球投资者进一步提高股票持仓,股票配置升至近五年来最高水平,市场几乎没有

智通财经
Aug 18
美国银行的Michael Hartnett表示,全球投资者进一步提高股票持仓,股票配置升至近五年来最高水平,市场几乎没有给悲观者留下空间。Hartnett为首的美银策略师团队在报告中写道,美银最新行业调查显示,净56%的基金经理超配股票,占比为2021年11月以来最高。现金配置则降至“极低”的3.5%。报告称,市场共识是经济不会出现明显“着陆”、美联储不会加息、AI资本开支不会削减、民主党不会在中期选举中大胜。他们认为当前仓位仍意味着投资者更应在风险资产内部撤退或轮动,而不是进一步加仓,报告重申了近期转向更防御性市场板块的观点。美国银行此次调查于8月7日至13日进行,共有180名受访者参与,他们合计管理5250亿美元资产。策略师称,这次调查反映的投资者看涨情绪为2022年以来第三高。做多全球半导体是当前最拥挤的交易,不过扎堆程度已明显下降。投资者认为,AI泡沫是最大的尾部风险,而超大规模云服务商的资本开支则被视为最可能引发信用事件的因素。尽管如此,净71%的受访者预计今年AI支出不会削减,58%的受访者认为,AI最早也要到2028年才会对劳动力市场造成明显冲击。

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