A Snapchat sign hangs on the facade of the New York Stock Exchange (NYSE) in New York City, U.S., January 23, 2017. (Photo: Reuters)
The State Street Investor Confidence Index, a gauge of investor confidence or risk appetite, blew past the forecast of 97.4 to hit 102.5 in May. The 5.1-point gain was fueled exclusively by the North American component, which increased from 95.1 to 104.1.
The European component rose only slightly, up 0.7 points to 96.9. Asia fell 3.5 points to 101.1. The index for April was revised downward by 2.1 points to 97.4.
By analyzing the actual buying and selling patterns of institutional investors, the index assigns a precise meaning to changes in investor risk appetite: the greater the percentage allocation to equities, the higher risk appetite or confidence.
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