BofA Survey: Global Fund Managers Made Record Stock Purchases in May

Bank of America's (BofA) May global fund manager survey revealed that investors increased their equity allocations to a record level. Fund managers surveyed significantly raised the equity weight in their portfolios compared to the previous month. This increase was recorded as the largest monthly jump in the survey's history. According to the survey results, investor risk appetite increased markedly. Cash levels declined while equity allocations rose. This is seen as a reflection of optimism in the markets and expectations of economic recovery. Fund managers particularly favored technology and growth stocks, while interest in developed markets also increased. The BofA survey shows that global fund managers raised the equity ratio in their portfolios to above 50%. This represents an increase of approximately 20 percentage points from the previous month. During the same period, cash allocations fell to 4.5%, one of the lowest levels in recent years. The vast majority of managers surveyed believe the global economy is entering a period of strong growth. As inflation concerns ease, expectations that central banks will begin cutting interest rates are driving investors toward equities. However, some remain cautious about geopolitical risks and market volatility. This is not investment advice.

📊 GOOGL — Piyasa Yorumu

■ neutral · 60%

GOOGL shares fell more than 3% in the last session to 387.70. Although the RSI at 37.7 is approaching oversold territory, the MACD remains below the signal line and in negative territory. Trading below short-term moving averages (20- and 50-day) weakens the technical outlook. While the record stock buying in the BofA survey is positive for overall market sentiment, the technical weakness specific to GOOGL may limit this effect. Therefore, short-term direction uncertainty persists.

RSI 14

37.7

MACD

-2.25

24h Δ

-3.05%

📊 SPX — Piyasa Yorumu

■ neutral · 60%

While the news reflects institutional investors' confidence in equities, technical indicators point to short-term weakness. The SPX is trading below its 20- and 50-day moving averages, with the RSI at 41, indicating negative momentum. The MACD line is below the signal line and in negative territory, confirming continued selling pressure. The 1.89% decline over the past 24 hours may limit the positive impact of the news. Therefore, short-term direction remains uncertain.

RSI 14

41.5

MACD

-17.30

24h Δ

-1.89%

📊 NDX — Piyasa Yorumu

■ neutral · 60%

NDX has declined 2.5% in the last 24 hours, with its RSI at 43.8, near neutral territory. The MACD is below the signal line and negative, indicating short-term weakness. The price is trading below both the 20-day and 50-day moving averages. While news of record equity buying in the BofA survey is positive, the weakness in technical indicators and the prevailing downtrend suggest an immediate reversal is unlikely. A sideways to slightly bearish trend is more probable in the near term.

RSI 14

43.8

MACD

-95.88

24h Δ

-2.53%

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BofA Survey: Global Fund Managers Made Record Stock Purchases in May

📊 GOOGL — Piyasa Yorumu

📊 SPX — Piyasa Yorumu

📊 NDX — Piyasa Yorumu

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