The U.S. dollar and silver survey shows that the Fund's manager's optimism about stocks is nearly four years high

The latest Global Fund Manager Survey shows that the optimism of the Fund manager is close to four years high. It was noted that market vulnerability may come more from hold than from valuation or macro risk. Cash levels have fallen to historical lows and the five-year high level of equity allocation has meant that there is limited scope for further market growth. The survey also revealed that the proportion of fund managers who were concerned about the overcrowding of semiconductor trade had dropped from 80 per cent to nearly half, indicating that some rotations had occurred in the area of technology. In the survey, 56 per cent of respondents expected no economic slowdown and 43 per cent forecast a boom, indicating strong confidence in economic prospects。