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Bank of America: Bitcoin Now 3rd Most Crowded Trade After Tech Stocks and ESG in New Fund Manager Survey
15.7.2021
Bank of America’s latest global fund manager survey shows that “long bitcoin” is now the third most crowded trade. The most crowded trade is now “long tech stocks,” followed by “long ESG.” Bank of America’s global fund manager survey for July...
Bank of America Establishes Cryptocurrency Research Team
9.7.2021
Bank of America has become the latest major bank to make a foray into the cryptocurrency sector. According to an internal memo, the bank has created a team dedicated to researching cryptocurrencies. Bank of America believes that it is “uniquely positioned to provide thought leadership”...
Bank of America Survey: Most Fund Managers Say Bitcoin Is a Bubble, Inflation Is Transitory
17.6.2021
The latest Bank of America’s Global Fund Manager Survey shows that “long bitcoin” is now the second most crowded trade. Moreover, most fund managers believe bitcoin is in a bubble and agree with the Fed that inflation is transitory. Bank of America’s June Fund Manager Survey...
Goldman Sachs Survey: Chief Investment Officers Say Bitcoin Is Their Least Favorite Investment
7.6.2021
Investment bank Goldman Sachs recently held two roundtable sessions for chief investment officers of hedge funds. The bank found that they see bitcoin as their least favorite investment. In contrast, the latest Bank of America Fund Manager Survey found that “long bitcoin” was the most...
Bank of America, Citigroup, Wells Fargo Unveil Their Cryptocurrency Policies
30.5.2021
Bank of America, Citigroup, and Wells Fargo have shared their policies regarding cryptocurrency before the U.S. Senate banking committee. The three banks are in different stages of offering crypto services to their clients. They also lag behind some of their peers, such as Morgan Stanley...
‘Long Bitcoin’ chosen as most crowded trade in latest BofA survey
18.5.2021
Bank of America noted that trades identified as "crowded" have historically been associated with incoming market tops
Bank of America Says the Only Good Reason for Holding Bitcoin Is ‘Sheer Price Appreciation’
19.3.2021
Bank of America sees no good reason to own bitcoin other than “sheer price appreciation.” The firm’s strategists found that the cryptocurrency’s “inflation hedging benefits are not particularly apparent.” Bank of America also claims that bitcoin does not offer...
Bank of America Investor Survey Highlights the Most Crowded Trades: ‘Long Tech, Short USD, Long Bitcoin’
15.12.2020
The highly anticipated Bank of America fund manager survey has been published, and this December fund managers who participated in the survey are sweeping up risk assets. The asset managers have dropped cash for the first time in close to seven years, as levels are down 4%. Moreover, strategists...
Mass Adoption of a Digital Euro Could Be a ‘Clear Negative’ for Europe’s Banks: BofA
9.12.2020
A Bank of America report on a possible mass-adopted digital euro noted that such movement could spell difficulty for commercial banks that could see some of their deposits migrate to the European Central Bank
Bitcoin suddenly slides 4% as BofA predicts a 20% stock market crash
30.10.2020
The price of Bitcoin abruptly dropped 4% from the day’s peak as the uncertainty in the stock market intensified
JPMorgan, Bank of America, Deutsche Bank Predict Major Recession
11.4.2020
Big banks are predicting a major recession, the deepest one in the post-war era. JPMorgan Chase CEO Jamie Dimon said his bank cannot be immune to the resulting financial stress while Bank of America expects the U.S. economy to “collapse” and Deutsche Bank has forecasted a severe global...