Participants in the January poll were “a lot less bearish” than in the fourth quarter, sparking a rotation to emerging markets, Europe and cyclical stocks, and away from pharmaceuticals, technology and the US, strategists led by Michael Hartnett wrote in a note. Allocation to US equities “collapsed” during the first month of 2023, with investors a net 39% underweight the asset class, they said, exceeding even the UK’s 15%.
Gold tumbles 4% to seven-week low as oil, dollar and yields climb
Gold fell sharply as rising oil prices heightened inflation concerns and strengthened expectations for tighter monetary policy. A firmer dollar and increasing Treasury yields contributed
September 28, 2026