THE BIG MONEY IS LOSING CONFIDENCE IN THE MARKET
Courtesy of The Pragmatic Capitalist
This morning’s State Street Investor Confidence survey showed a marked decline in confidence. Confidence was down across the board which shows increasing pessimism from institutional money managers. Ken Froot, co-founder of the index, commented on the deterioration:
“This month, the Global Investor Confidence Index gave back the modest gains recorded last month, providing evidence that institutional investors remain non-committal in the face of a weaker macroeconomic backdrop. August marks the fifth consecutive month that the Index has remained below the neutral level of 100. Despite the relative strength of corporate balance sheets, question marks remain over the slow pace of economic recovery and the relative efficacy of policy measures to spur that recovery.”
Source: State Street
