TechFlow news, July 15 — According to Jinshi Data, the Bank of America's July Global Fund Manager Survey shows that investors now view shorting the U.S. dollar as the most crowded trade, with around 34% of respondents holding this view. This marks the first time in the survey’s history that shorting the dollar has replaced long gold as the top crowded trade. Investors are most underweight on the U.S. dollar, followed by U.S. equities, energy, and consumer staples stocks. The survey indicates that 47% of investors believe the dollar is overvalued, down from 61% in June. Additionally, 14% of investors see a sharp decline in the dollar due to capital outflows as the third-largest tail risk (i.e., low-probability events).
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