Expect a U or W-shaped recovery - BofA survey

Just 10% of investors anticipate V-shaped recovery

James Baxter-Derrington
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More than half of managers cited a second wave of Covid-19 as the greatest risk to markets
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More than half of managers cited a second wave of Covid-19 as the greatest risk to markets

Investors are markedly bearish, with 75% anticipating a U or W-shaped recovery from the economic fallout of the coronavirus pandemic compared to just 10% expecting a V-shape, according to the latest global fund manager survey from Bank of America.

A second wave of coronavirus ranks as the greatest tail risk by far, with 52% of managers surveyed citing it, while permanently high unemployment (15%) and a break-up of the European Union (11%) claim...

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