Investors who slashed their equity exposure during a bout of market volatility in early August sharply increased their holdings as global stocks rebounded last week, Deutsche Bank flow data shows.
In a sign of how quickly markets have recovered from the dramatic sell-off, positioning among discretionary investors — who judge when to buy or sell — last week “jumped sharply to fully recoup [the previous week’s] decline and is now well above average again”, Deutsche said in a note on Monday.
Cash poured into index options, megacap technology stocks, cyclicals and defensives, it added.
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