Optimism about major US tech companies and economic soft-landing, still alive and well even after market turmoil - survey

2024/8/13 22:11 JST (some excerpts)
The Bank of America (BoFA) global survey showed that expectations for major US technology companies and optimism about a soft landing (soft landing) of the economy remained unwavering even when volatility rose in global financial markets.
　　The BoFA conducted an investigation from August 2 to 6. It overlaps with the peak last week when the market was in turmoil. According to the survey, stocks were relinquished and rotation into defensive assets such as bonds and cash was seen, but the long (purchase) position against shares of the major high-tech company “Magnificent Seven” was still the most popular transaction even if it declined slightly.
　　BoFA strategist Michael Hartnett stated in the report that “core optimism about soft landings and large US growth stocks is deep-seated,” and continued, “However, investors think that more aggressive interest rate cuts are necessary in order to reliably avoid a recession (economic recession).”