GREENWICH, Conn. (HedgeWorld.com)–Fund managers continue to be warily positive about the outlook for U.S. stocks this month, according to VAN Macro Sentiment Indicators, compiled by Van Hedge Hedge Fund Advisors International LLC.

For March, 42% of managers in the survey are bullish on the Standard & Poor’s 500 Stock Index, about the same proportion as in February, when 42% looked for upward movement. For this month, 29% are bearish, while the same percentage of managers are neutral. In February, 37% took a bearish posture.

Managers were divided over expectations for the U.S. dollar, with 45% bullish, 42% bearish and 13% neutral. The bears came out in much greater numbers from February, when just 17% looked for a slide in the dollar. The souring on the currency probably stems from recent events such as the signaling from South Korea’s central bank that it would reduce dollar-denominated holdings. Dollar-selling by hedge funds themselves has also contributed to a downward push (see ).

Managers continue to take a dim view of the U.S. Treasury 10-year Note, with 54% of them bearish. That’s a modest brightening from February, when 65% were negative. One-quarter are bullish for March, up slightly from February’s 22%, while 21% are neutral.

The VAN indicators are based on the responses of 20 to 30 hedge fund managers employing a macro view and representing about US$30 billion in assets. Because their views may be based on current positions, the indicators may reflect an extremely short-term outlook.

Contact Bob Keane with questions or comments at: bkeane@investmentadvisor.com”>.