Fewer Money Managers Are Bullish on the Stock Market Now: Barron’s Poll
ILLUSTRATION BY BARRON’S STAFF; DREAMSTIME (1)
Big Money Poll
Markets
Fewer Money Managers Are Bullish on the Stock Market Now: Barron’s Poll
Professional investors favor bonds over stocks for the next 12 months, according to the Big Money Poll. The biggest risk to the market: recession.
By Nicholas JasinskiFollow
April 21, 2023 1:30 pm ET
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Troubled times on Wall Street have given way to muddled times. Investors expect the Federal Reserve to cut interest rates later this year, but Fed officials have indicated that’s far from the plan. Economists are predicting a recession, yet unemployment is lodged near record lows. And even as companies warn of leaner days, analysts are forecasting record earnings for 2023.
Troubled times on Wall Street have given way to muddled times. Investors expect the Federal Reserve to cut interest rates later this year, but Fed officials have indicated that’s far from the plan. Economists are predicting a recession, yet unemployment is lodged near record lows. And even as companies warn of leaner days, analysts are forecasting record earnings for 2023.
No wonder trading is somnolent, and investors lack conviction. Their consternation comes across clearly in Barron’s latest Big Money poll, and was evident in conversations with many respondents. Only 36% of the professional investors we surveyed in the past month describe themselves as bullish on the outlook for stocks over the next 12 months. The same percentage say they are neutral, while the remaining respondents, 28%, put themselves in the bearish camp.
