Global fund managers said the euro was cheap and they were seeking more exposure to it and European equities on the back of a massive fiscal stimulus plan, a Bank of America survey showed on Tuesday. Among factors boosting European assets is Europe’s relative success in gradually reopening its economy and the European Union’s proposed 750 billion euro recovery fund to help countries deal with the fallout from the coronavirus crisis. Investors’ allocation to euro zone equities increased 9 percentage point to net 16% overweight, the largest increase in net weighting of any region this month. A net 44% of the 210 ... (full story)