Global equities are at their most undervalued since August 2011 with Europe being the most undervalued region, fund managers said in a survey.
The survey results released earlier this week showed that 48% of fund managers thought global equities were undervalued - up from 35% in May and 22% in April.
Europe is the most undervalued region according to 45% of managers - up from 27% in May.
At the same time, 83% of global fund managers that took part in a survey by BofA Merrill Lynch Global Research, said that bonds were overvalued – up from a net 74% a month ago.
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