BofAML Survey: Majority of managers do not expect recession this year

Despite low global growth expectations

Despite low global growth expectations, the majority of fund managers do not expect a global recession this year, according to the Bank of America Merrill Lynch April Fund Manager Survey.

Just 6% of respondents expect a global recession to happen this year, and 86% do not believe the inversion of the US Treasury yield curve is a sign of an impending market downturn. Seven out of ten fund managers responding to the survey do not anticipate a recession until the second half of 2020 or even later. However, a net 5% of fund managers expect global growth to be weaker over the coming year, up 20 percentage points from last month.  Some two thirds of respondents were bearish on the growth and inflation outlook for the global economy for the period, the highest level since ...