According to data from epfrglobal quoted by Deutsche Bank, in the week ending September 7, fund managers withdrew $3.4 billion from European equity funds, and the total outflow of funds in the past six months reached $83 billion. Those fleeing include BlackRock and amundisa, the largest asset management company in the region.
Analysts at Bank of America and JPMorgan Chase lowered their year-end forecasts for the Stoxx 600 index and Europe’s Stoxx 50 index respectively. Germany has become the favorite target of short sellers!