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The Tell: Stalled investor sentiment gauge points to stock-market gains: BAML

With so many global trade and geopolitical concerns hovering in the background, it isn’t surprising that many investors remain on the sidelines. But it could be good news for returns over the next 12 months, according to analysts at Bank of America Merrill Lynch.

Investors aren’t overly optimistic, nor are they pessimistic. What’s most important is that their level of optimism remained on hold for a fourth month in a row, BAML said in a note to investors on Friday.

The investment bank’s Sell Side indicator has been in line with its 15-year average since February, “suggesting a wait-and-see approach to recent concerns over protectionism, geopolitics, slowing global growth, and rising interest rates and inflation,” the analysts said.

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