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BofA Survey: Global Recession Pessimism Results in Highest Cash Hoarding Level since 9/11
Summary: 93% of fund managers expect a global recession within the following 12 months, according to Bank of America’s April Fund Manager Survey.
93% of fund managers expect a global recession within the following 12 months, according to Bank of America’s April Fund Manager Survey. The monthly survey of BofA updates the public with a macro view of the latest opinions towards the global economy among business insiders.
April FMS also reveals how investors estimate the economy to recover from the COVID-19’s devastation. According to the Block, 50% of those managers presume a U-shaped economic recovery, followed by 22%’s expectation of a W-shape, while 7% surmise an L-shaped development. All these estimates indicate that the participants of the survey believe in a prolonged struggle and slump.
Cash levels have spiked to a record high of 5.9% since the 9/11 terrorist attack, which marks extreme investor pessimism, as stated by the Markets Insider.
By Dawn Wu
Tags: Cash,Global Economy
Link: BofA Survey: Global Recession Pessimism Results in Highest Cash Hoarding Level since 9/11 [Copy]
