Gary Baker, Bank of America Corp.’s head of European equities strategy, is being replaced by John Bilton amid a reorganization of the firm’s research department, said three people with direct knowledge of the move.
Global investors are betting on a short-term bounce in equities, boosted by expectations that the European Central Bank will engage in so-called quantitative easing by the year end, a Bank of America Corp. survey showed.
Allocations in U.S. stocks almost doubled in April on renewed concern that the euro-area debt crisis will worsen, prompting investors to sell European equities and hoard cash, a Bank of America Corp. survey showed.
U.S. stocks advanced, rebounding from yesterday’s decline, amid speculation the Federal Reserve will take steps to stimulate the economy and after the European Central Bank endorsed a plan to guarantee bank deposits.
Asset allocation in U.S. equities more than halved in July to a nine-month low as investors sold technology companies amid concern about the outlook for global growth, a Bank of America Corp. survey showed.
The fastest profit growth since 2004 will push European stocks up 15 percent by January, handing investors the biggest two-year advance in a decade, according to estimates from 13 strategists surveyed by Bloomberg.
Global asset allocators turned the most bearish on equities and commodities since 2009 as Europe’s debt crisis prompted investors to once again raise cash levels, a Bank of America Corp. survey showed.
U.S. stocks retreated, pulling the Standard & Poor’s 500 Index down from a 32-month high, after a report showed retail sales increased less than forecast and Exxon Mobil Corp. led a decline in energy producers.
U.S. stocks rose, giving benchmark indexes the biggest rallies in a month, as higher forecasts from the International Monetary Fund and gains in Spanish bonds overshadowed declines in housing starts and factory production.