美国银行全球研究部周二发布的最新投资者调查显示，受滞胀风险、贸易战升级及“美国例外主义终结”等多重担忧影响，3月份机构投资者对美股的配置比例创下有史以来最大降幅，市场情绪遭遇“牛市急挫”。
这份涵盖171家机构、管理资产规模达4260亿美元的权威调查显示：
全球现金配置比例从3.5%攀升至4.1%，标志着去年12月触发的“卖出信号”正式终结。美银分析师指出，市场情绪的急速降温“与股市调整触底的典型特征相吻合”；
全球增长预期遭遇有记录以来第二大跌幅，但欧元区股票配置比例却逆势攀升至2021年7月以来新高；
银行业异军突起，成为全球最受青睐板块，凸显资金避险转向高股息资产的趋势。
值得关注的是，尽管经济前景蒙阴，投资者正通过“哑铃策略”平衡风险：一方面增持现金应对波动，另一方面加大欧洲价值股配置。这种冰火两重天的资金动向，折射出机构对美联储政策转向滞后于经济周期的深层担忧。
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