TECH - Tech Stock Rally To Continue As Global Fund Managers Position For Soft Landing In 2024 | Benzinga
The current tech rally is expected to continue into 2024 and global fund managers increased the weightings in their portfolios of large U.S. and Japanese tech stocks in November.
Bank of America‘s Global Fund Manager Survey for November, published on Tuesday, showed institutional investors remained cautious on economic growth, but expected a soft landing in 2024, lower interest rates, a weaker U.S. dollar and a continuing bull run in large-cap tech stocks and pharmaceuticals.
While fund managers continued to be cautious, moving into their biggest Overweight position on Treasuries and other government bonds since 2009, they moved into their first Overweight position on stocks since April 2022 — led by large-cap technology ...