The bearish outlook among hedge fund managers from October has continued into November, at least according to the Van Hedge Fund Advisors International sentiment indicators for US equities, the US Dollar and the US Treasury 10-year Note.
The S&P 500 is expected to decline in November by 42% of the managers versus 56% in October. The group’s pessimistic view on the US Dollar has become slightly more negative for November with 63% anticipating the Dollar will decline. Lastly, 46% expect the US Treasury 10-year Note will end the month lower.