Investors less bearish in May as recession fears recede

BofA Global Fund Manager Survey

US President Donald Trump’s April tariffs have heightened fears of a global recession, but investors are less pessimistic, as cash levels fell and tech allocation soared in May.

According to Bank of America's (BofA) Global Fund Manager Survey on Tuesday (13 May), fund managers' fears in May were "not as extreme", as the uber-bearish attitudes posted in April, with a recession now seen as less likely. China's monetary stimulus plan not enough to offset Trump's tariff onslaught The survey, conducted between 2 and 8 May, during which the US and China said they would engage in trade talks, found that its broadest measure of FMS sentiment, which tracks cash levels, equity allocation, and global growth expectations, rose to 2.5 in May from a "very bearish 1.8" the ...