Sentiment indicators for U.S. equities and the U.S. dollar show hedge fund managers are split, according to Van Hedge Fund Advisors. But the bearish sentiment toward the U.S. Treasury 10-year note is receding.
With respect to U.S. equities, the Managers have a divided outlook as 44% anticipate the S&P 500 will move higher and 39% expect the index to move lower. In regard to the U.S. dollar, 48% expect the recent dollar rally to continue into April. Finally the bearish sentiment that the Managers have held on the U.S. Treasury 10-year note has abated somewhat for April as 48% expect the 10-year to move higher.
The VAN Macro Sentiment Indicators are based on the outlook of hedge fund managers employing a macro view and who manage, in aggregate, in excess of $30 billion in assets. The purpose of the indicators is to reveal how these managers believe the S&P 500, the U.S. dollar and the U.S. Treasury 10-year note will perform over the current month.