Worst October for Stocks in Five Years Has Investors Exiting Market
- Active manager poll, positioning show investors reduce risk
- Bond volatility adds pressure amid a mixed earnings season
Surveys of professional managers show big-money allocators have cut their equities to levels last seen at the depths of the 2022 bear market.
Photographer: Drew Angerer/Getty ImagesThis article is for subscribers only.
The VIX is at 20, stocks are on the brink of their worst October in five years, and every other day the bond market throws a fit.
For equity bulls conditioned to dive in at any sign of weakness, it’s getting to be too much. Across investor categories, they’re pulling money out and hardening a posture that is by some measures the most defensive in over a year.