The VAN Macro Sentiment Indicators have revealed that hedge fund managers are bearish about the prospects for the US dollar, the US 10-Year Treasury note and US equities in the month ahead for the first time since their inception in March 2004.
The VAN indicators are based on the outlook of hedge fund managers employing a macro view and who manage in excess of $33 billion in assets.
According to the data, 57% are pessimistic over the prospect of the US dollar in October, compared to 48% who were negative last month.
Meanwhile, 58% are bearish on the price of US 10-Year T-Notes, up from 38% who held this view in September.
Finally, slightly more fund mangers (56%) expect the S&P 500 index to fall this month, against 50% who thought the same last month, although this is markedly higher than the 26% who were bearish in August.
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