Global fund managers remain bearish despite bets on a soft landing

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Sentiment among global fund managers remains bearish despite bets of a soft landing for the economy, with most expecting a mild recession by early next year.

According to the Bank of America Global Fund Manager survey for July, 60% of investors expect weaker global growth in the next twelve months, with the vast majority (68%) forecasting a soft landing rather than a hard landing (21%). Nearly half (48%) of investors surveyed predict the start of global recession by the end of Q1 2024, while 25% expect the start at the end of this year. However, a rising number of respondents (19%) forecast no global recession in the next 18 months, up from 14% in June.  The survey found that the best of the news on lower inflation and lower short-term int...