Advisors, investors and consumers expressed a boost in confidence in November, with major indexes measuring their attitudes all reporting increased levels in the last month.
In November, advisor confidence in the economy and the stock market improved moderately, rising 1% to a level of 111.75 versus 110.63 in October, according to the Rydex|SGI AdvisorBenchmarking survey released Tuesday. The advisor confidence index is a benchmark that gauges advisor views on the U.S. economy and stock market based on web surveys of registered investment advisors.
Many respondents agreed that U.S. and world economies seem to be continuing on a path of slow recovery, according to a Rydex|SGI news release.
"With the election behind us and radical legislation changes unlikely during a lame duck congress, we see this as positive for the uncertainties in the economy and market and think it bodes well for equity markets worldwide," said Rob Siegmann of Financial Management Group, an RIA in Cincinnati, Ohio, in a statement.
Meanwhile, investor confidence also surged in November, according to State Street Global Markets, the investment research and trading arm of State Street Corp., which reported a global rise in investor confidence to a level of 97.5 versus 88.2 in October.
The index, based on actual trades rather than survey opinions, sets a neutral reading at 100, the level at which investors are neither increasing nor decreasing their allocations to risky asset
"Having remained at somewhat lackluster levels since April of this year, institutional investor confidence recovered to some degree this month, with North American and European institutions leading the way," said Harvard
