Bank of America: Investors currently believe that shorting the dollar is the most crowded trade

07/15 11:22

the July global fund manager survey by Bank of America showed that investors believe shorting the US dollar is currently the most crowded trade, with about 34% of respondents holding this view. This is the first time in the history of the survey that shorting the US dollar has replaced being long on gold as the most crowded trade. Investors are underweight in the US dollar, as well as in US stocks, energy, and consumer staples stocks. The survey shows that 47% of investors believe the US dollar is overvalued, down from 61% in the June survey. In addition, 14% of investors believe that a sharp drop in the US dollar due to capital outflows is the third biggest tail risk (i.e. events with a low probability of occurring).

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