Investors are becoming increasingly bullish on US equities with optimism at a multiyear high according to a recent Fidelity survey of 326 clients. The survey found that 56% of respondents were optimistic over the next 6 months while less than 16% were pessimistic. This was a complete reversal of the prevailing sentiment two years ago when 11% of respondents were optimistic while nearly 60% were pessimistic. Fidelity notes that the number of respondents with a favourable outlook has been on the rise for four quarters in a row. A major driver of this optimism has been the rallying of the US stock market. Dirk Hofschire, Senior VP at Fidelity says, Stock markets in developed markets, like the US, have been outperforming the stock markets of emerging markets for the past three years. This is the first time we've seen this on a sustained basis since the late 1990s. (VIEW LINK)
Interesting to see how close the fidelity result was to the LW poll!