⌛Bank of America has highlighted growing pessimism among investors regarding global economic growth, according to a recent survey of fund managers managing over $508 billion in assets.
Key findings include:
🔵Global Growth Expectations: At an 8-month low
🔵Fed Rate Cuts: 60% of respondents expect at least four rate cuts by the Fed in the next 12 months
🔵Interest Rate Cuts: Anticipation of active rate cuts by global central banks within the next year
🔵Soft Landing: 76% of respondents predict a "soft landing" but expect a slowdown in global economic growth
🔵Investment Shifts: In early August, international money managers shifted investments to government bonds and fiat, reducing stock holdings
🔵Equity Confidence: Fund managers remain optimistic about the growth of the "Magnificent Seven" stocks.
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