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Global funds hold equity allocations at over three-year high


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BENGALURU (Reuters) - The current run-up in stocks has at least another three months to go, according to fund managers in Reuters polls who kept their recommended equity exposure at last month s more than three-year high and trimmed suggested bond holdings further.
Global stocks have been on a tear, buoyed by fiscal stimulus - mainly from the United States - the expected vaccine-driven economic recovery and robust earnings, putting the MSCI world equity index on track for its best monthly performance since November.
That was despite the ongoing health crisis in many countries, especially India and Brazil, which are still facing challenges from the pandemic. The Federal Reserve also acknowledged the virus as a risk to an economic recovery. ....

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Why now is an especially bad time to count on near-term market gains. Plus, what fund managers are doing with stock and bond allocations

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With summer in sight, Goldman Sachs starts return-to-office push


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NEW YORK (Reuters) - On a global town hall meeting held on Zoom, Goldman Sachs Group Inc’s CEO on Thursday told the bank’s thousands of employees who have been mostly working from home since the start of the pandemic that he hopes to have them working in offices again by this summer.
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The New York-based investment bank has nearly 40,000 employees around the world and its push to return to offices has been gaining steam internationally. In India, many of the bank’s roughly 10,000 employees are returning to offices in Bengaluru and Mumbai from hometowns where they had spent the pandemic. In London, traders, investment bankers and others can get tested for COVID-19 in booths scattered around the building. ....

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