One of the recurring comments about the “Trumpflation” rally, which has sent US stock markets to constant record highs and pushed the Dow Jones just shy of 20,000 has been that there is virtually nobody selling. According to a poll released today by Reuters, which surveyed 45 fund managers and CIOs around the globe, investors’ equity holdings rose to six-month highs in December on bets that buying at all time highs would mean selling even higher.
“Be ready to buy dips,” Trevor Greetham, head of multi-asset at Royal London Asset Management, told Reuters however that has proven difficult in the past two months as there have been largely no dips to buy. As Carl Icahn lamented earlier on CNBC, “nobody is selling.”
However, according to a new analysis from Credit Suisse, a “seller” may emerge, and a very determined one at that.
This post was published at Zero Hedge on Dec 22, 2016.
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