NASHVILLE, Tenn. (HedgeWorld.com)–A survey of macro hedge fund managers found a majority of them bearish in their outlook for the October performance of U.S. equities, the dollar and 10-year Treasury notes. It was the first time since the survey was started in March by Van Hedge Fund Advisors International LLC that the respondents took a pessimistic view in all three indicator categories for the month.
The survey results, issued by the company as the VAN Macro Sentiment Indicators, are based on the outlook of hedge fund managers with a combined total of about US$33 billion in assets under management.
For October, 57% of managers express a bearish view of the U.S. dollar, up from 48% in September and from 29% in August, when 54% were bullish on the currency.
Just 22% percent are bullish toward the Standard & Poor’s 500 stock index for October, down from the 39% percent who had an optimistic view for August, while 56% percent take a bearish view in the most recent poll.
For Treasuries, 52% are taking a bearish view for the current month, up from 38% in the September survey.