US households’ appetite for equities often depends on how confident they feel. Its strength in recent years is therefore rather surprising, given that their mood hasn’t been upbeat. Sentiment did perk up this month, judging by the University of Michigan’s latest survey. Even so, the level of the headline index still seems at odds with households’ and non-profit organisations’ (NPOs’) asset allocation towards stocks, based on the Fed’s latest Financial Accounts of the United States.
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