Falling chances of hard landing spur DFM optimism to equities

Winter is giving way (reluctantly) to spring so we thought we’d update our sentiment indicator to see if the good weather was encouraging allocators to feel more upbeat.

We compiled the responses and as far as equities go, they definitely are.

Overall 56 per cent of the allocators we polled were positive about equities as a whole. This compares to just 33 per cent being positive at the turn of the year, when the plurality sentiment was 38 per cent negative.

One of the key drivers for this positivity towards equities appears to be the decreasing prospects of the ‘hard landing’ scenario.

Indeed at the turn of the year, the majority of allocators were negative towards US and European equities but these have now switched to neutral – meaning there are no equity regions which are negative towards as majority or as a plurality.

Allocators are most bullish towards UK smaller companies, where 70 per cent are positive, up 20 percentage points since the last time we checked. 


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