NEW YORK, March 1 (Reuters) – More hedge fund managers are turning bearish on prospects for the U.S. dollar and U.S. equities, and see prices falling for both sectors this month, a survey released onThursday showed.
The monthly sentiment survey, which polled a small sample of “macro” hedge fund executives managing some $30 billion, found that 70 percent think the dollar will fall in March against other major currencies. “Macro” funds trade a variety of asset classes based on trends in economic fundamentals, political risk and capital flows.
A month earlier, only 10 percent were bearish on the dollar, with 60 percent forecasting gains, according to the poll of funds which trade currencies, fixed income and other global instruments.
The survey, conducted by consultants Greenwich Alternative Investments LLC, also found that 62 percent of “macro” managers were bearish on equities in March, compared to 50 percent last month. Another 23 percent were bullish on the S&P 500, and 15 percent were neutral.
