According to Jin10, State Street’s Risk Appetite Index fell to -0.09 in October, marking its second consecutive decline. Institutional investors reduced their foreign exchange and commodity exposures while remaining optimistic about equities and bonds. Marija Veitmane, head of equity research at State Street Markets, said investors were rotating rather than retreating. Equity allocations edged lower in October but remained well above their long-term average. Technology stock positions were being reduced, not abandoned, and overall equity and technology positions remained high.