Investor confidence declines in November
A global investor confidence index compiled by a unit of State Street Corp. fell by 7.6 points to 100.8 from October’s level of 108.4, partly because of jittery Asian investors, while the index for North America ticked up 1.1 points from 101.1 to 102.2.
The results were released by State Street Global Markets, the investment research and trading arm of State Street Corp., a Boston company that provides financial services to large investors.
The State Street Global Markets press release included a statement from Harvard University professor Ken Froot, who helped develop the index.
"Across all regions, institutional investors are largely treading water; neither increasing nor reducing their aggregate holdings of risky assets," Froot said. "However, the aggregate figures mask some country- and region-specific views. This month, for example, institutional investors aggressively pared their holdings in selected markets, such as Australia, while continuing to add to their emerging markets holdings. Overall, investors are displaying some caution about the current level of equity valuations, and a desire to see more evidence of real economic activity and aggregate demand, particularly in the US, before adding to equity exposures."
The graph that accompanies this post was included with State Street's press release.
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