X @外汇交易员

Market Sentiment & Positioning - Bank of America's global fund manager survey indicates that bullish positioning is a headwind for risk assets, not a tailwind [1] - Extremely low cash levels at 37% are considered a "sell signal" [1] - Global investors are most overweight on stocks since February 25 and most overweight on commodities since September 2022 [1] Investment Concerns & Risks - Fund managers believe corporations are "overinvested" for the first time in nearly 20 years [1] - 54% of respondents view long positions in the Magnificent Seven as the most crowded trade [1] - 45% of respondents consider an AI bubble to be the biggest tail risk [1] - Overheated conditions will face further correction if the Federal Reserve does not cut interest rates [1] Vulnerable Markets - Emerging markets and banks are most susceptible to a typical risk-off move in the fourth quarter [1]