Staying on the Sidelines of the Equity Rally Is Starting to Really Hurt
- Stocks are up 14% this year, but fund exposure is at 2016 low
- Barclays strategists say ‘pain trade’ still looks on upside
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Staying away from stocks this year might not have been such a great idea after all.
The S&P 500 is just 2.2 percent away from a record high. The Stoxx Europe 600 Index is trading at the highest since August, and both car stocks and Italy’s FTSE MIB are set to close in a bull market today. The German bund yield is dipping below zero, fueling appetite for risk assets. And the latest Euro-area services data shows resilience.