Equities have not peaked yet and rally may continue beyond 2019: BofA-ML

Fund managers said they had six per cent overweight allocation to commodities

A majority of the money managers are of the view that equity markets have not yet peaked and the rally may continue beyond 2019, reveals the Global Fund Manager Survey conducted by Bank of America Merrill Lynch (BofA-ML). Three-fourths of the responded said the equities have not peaked yet, while a fifth said January marked the top, the brokerage said.

Meanwhile, the threat of a hawkish stance by central banks, including the US Federal Reserve and European Central Bank (ECB), has re-emerged as the biggest tail risk in May. Concerns over a trade war, the biggest risk in April, were seen