11Ys later

Sharing is Caring!

Bank of America says fund managers’ worries about a global recession are at its highest level since 2009

 

  • Bank of America surveyed 235 fund managers, asking them a variety of questions including how likely a recession in the next year is, and whether interest rates were to rise. 

  • Few in the survey said interest rates would rise within the next 12 months, while the number who said a recession would hit in the next year was the highest since 2009. 

  • Most also said that a resolution to the trade war doesn’t look likely before the 2020 election. 

  • The other takeaway, BoA says: “It’s time for fiscal stimulus.”

  • View Markets Insider’s homepage for more stories.  


Global fund managers have increasingly become more worried about the state of the economy, and according to Bank of America’s global fund manager survey, the risk of recession is at its highest since 2009.

The survey, released on Tuesday, surveyed 235 fund managers who manage a combined total of $683 billion, showed that 38% of fund managers expect a recession within the next year — the highest net percentage to say so since the depths of the financial crash in 2009.

The survey also showed that fund managers aren’t expecting great things from the economy, ahead of what’s expected to be a Federal Reserve rate cut this week. Just 21% of the fund managers expect a rise in short term rates in the next 12 months.

FMSBAML

China’s slowdown deepens; industrial output growth falls to 17.5-year low

 

817 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.