Half of the world's fund managers are long on Mag 7 - bofa
According to BofA Securities' global fund manager survey, Long Magnificent 7" is the most crowded trade.
Nvidia (NVDA), Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Meta (META), Tesla (TSLA)'s Magnificent Seven stocks are considered the most crowded trades due to 50% of November respondents indicating a longer group from 43% in October.
According to BofA's global fund manager survey, post-election, the congestion score for trades decreased to around 47% from November 6th to 7th.
Furthermore, 28% of fund managers consider gold (GLD) (GLDM) as crowded trades, while approximately 7% see the US dollar (UUP), (USDU) as crowded trades.
Only about 3% of respondents answered 'Long China Connect (MCHI), (FXI), (GXC)', while approximately 5% indicated 'Short' on the US Treasury's 30-year (US30Y).
Nvidia (NVDA), Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Meta (META), Tesla (TSLA)'s Magnificent Seven stocks are considered the most crowded trades due to 50% of November respondents indicating a longer group from 43% in October.
According to BofA's global fund manager survey, post-election, the congestion score for trades decreased to around 47% from November 6th to 7th.
Furthermore, 28% of fund managers consider gold (GLD) (GLDM) as crowded trades, while approximately 7% see the US dollar (UUP), (USDU) as crowded trades.
Only about 3% of respondents answered 'Long China Connect (MCHI), (FXI), (GXC)', while approximately 5% indicated 'Short' on the US Treasury's 30-year (US30Y).
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