24th September 2018 - Positioning update: How are investors positioned going into Q4?

US equities: Large inflows into US equity funds (US$ 14bn) last week are a sign of increasing bullishness on the part of retail investors; also confirmed by data released by different e-brokers. Daily average revenue trades from E-trade, IBKR and TD Ameritrade are also consistent with rising levels of bullishness among their investor base. TD's monthly blog post on investor sentiment highlighted that in August, “clients continued to slowly increase exposure to the market particularly in technology names such as Facebook, Amazon and Advanced Micro Devices”.