Surveys showed that investors were determined to stick with stocks despite a historically bad month for the market.
A Citi survey of insitutional clients showed that 80% wanted to commit more cash to equities.
"They're clearly pessimistic about the short-term, whether it's the stock market or the economy, however, they've got a long-term view that is optimistic on the economy," Tom Naratil, UBS Americas president, said on "Closing Bell."Coronavirus is top worry for 70% of investors but they remain optimistic long-term, says UBS's Tom Naratil
"Intriguingly, despite recession fears, 80% want to commit new cash to equities, but greater than 85% see large caps as outperforming and 65%+ perceive growth stocks to outpace value names," Citi said in a note. Those investors bringing their cash off the sidelines would provided a much needed boost for rattled markets. The major stock indexes are finishing March in bear market territory after hitting record highs in mid-February, as the coronavirus pandemic has ground major parts of the global economy to a halt and sparked record high unemployment claims in the U.S.survey of high-net-worth investors, conducted between March 21 and March 24, showed a similar reserved confidence.
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