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 ).