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Fund managers most bullish since 2021 as inflation fears recede
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According to Bank of America's monthly global fund manager survey, respondents said they expect global growth to remain unchanged over the next 12 months, with 53% stating they do not expect a US recession in the next 18 months. Only 8% predicted a recession in the second half of 2024, while 30% offered a 2025 recession bet. On rates, 8% of managers said they expect no Federal Reserve cuts in the next 12 months, while 78% expect at least two cuts to take place in the coming year, with the earliest forecast for September. Overall, only 5% of respondents expected a weaker economy in the...
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