The majority of hedge fund manager still maintain a bullish outlook for US equities in July with 50% expecting the index to move higher, according to Van Hedge Fund Advisors International, LLC in its report on market sentiment indicators for U. S. equities, the U.S. Dollar and the U.S. Treasury 10-year Note.
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.
VAN reports that the group has backed off its bullish stance on the US Dollar from June and holds a divided outlook for July. Lastly, the managers also hold a mixed opinion in regards to the US Treasury 10-year, as 33% are bullish, 28% bearish and 39% neutral on the 10-year Note.