This week in the podcast, we run

through the results of our 2Q21 US equity investor survey, conducted June 22nd

– 29th. The respondents were mostly US focused and based portfolio managers.

All were institutional investors. The big things you need to know: Overall, US

equity investors remained optimistic, though optimism did fade a bit relative

to our late March survey. Cash deployment and economic outlooks are strong,

though valuations, margins, inflation, COVID variants, the Fed, and Washington

policy are all weighing on sentiment. Interest in reflation trades is also

fading.