Investors Say Recession Is Over, According to New Bank of America Survey
For the first time since February, Bank of America’s fund manager survey revealed that more investors believe the global economy is in an “early cycle phase” rather than a recession, according to a ThinkAdvisor report. The survey, which took place Sept. 3-10, focused on 224 panelists managing assets worth $646 billion.
The survey also found that a net 84% of investors expected global growth over the next 12 months — a positive finding that hasn’t risen to such heights since September of 2003. Fund managers’ cash levels jumped from 4.6% to 4.8% between August and September, reported ThinkAdvisor. Meanwhile, according to MarketWatch, 41% of the panelists said they believed an effective coronavirus vaccine was a major reason for higher yields; the vaccine may be available in limited supply in November or December, according to the CDC.
The picture wasn’t entirely rosy, however. ThinkAdvisor notes the following potential risks indicated by 9-30% of investors surveyed: a tech bubble, a second wave of the coronavirus, the November U.S. elections, a U.S.-China trade war and a sovereign or corporate credit event.
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