Now even bigger and better: more asset manager views, more charts, more analysis! All charts in the attached presentation.
The latest views from 41 top asset managers offers insights into consensus positioning across 70 assets, with over 1100 individual views.
Main takeaway:
Despite markets rebounding to previous highs, buy-side sentiment is neutral—nowhere near the bullishness of early 2025. US dollar views are as underweight as it gets.
Sentiment: just north of neutral
- Modest uptick in risk appetite (3 of 5 risk-on/risk-off indicators up)
- Cash allocation drops meaningfully for the first time this year
- Equity sentiment barely higher and keeps a defensive sector tilt
- Cyclically-sensitive small caps now even more unloved
- No strong asset allocation views—investors on the fence
