Most fund managers say global stocks are overvalued – BofA’s Global FMS

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A record 60% of fund managers said global stocks (XWD:CA [https://seekingalpha.com/symbol/XWD:CA]), (NYSEARCA:URTH [https://seekingalpha.com/symbol/URTH]), (VT [https://seekingalpha.com/symbol/VT]) are overvalued, according to Bank of America’s Global Fund Manager Survey for October.

This is the highest level since before 1998.

Last month, the percentage of fund managers saying global stocks are overvalued was 58%.

In addition, a net 22% of respondents said global bond markets (EMBD [https://seekingalpha.com/symbol/EMBD]), (PGHY [https://seekingalpha.com/symbol/PGHY]), (BWX [https://seekingalpha.com/symbol/BWX]), (PICB [https://seekingalpha.com/symbol/PICB]), (PCY [https://seekingalpha.com/symbol/PCY]) are overvalued.

[Record net 60% of FMS investors say global stocks are overvalued]
Record net 60% of FMS investors say global stocks are overvalued (BofA Global Fund Manager Survey)

When it comes to gold, the survey showed that a net 41% of fund managers said gold (XAUUSD:CUR [https://seekingalpha.com/symbol/XAUUSD:CUR]) is overvalued – a large increase from net 24% in September, and the highest level since May.

[Gold Valuation and Gold Price ($/oz)]
Gold Valuation and Gold Price ($/oz) (BofA Global Fund Manager Survey, Datastream)

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