Hopes of a global reopening following two years of Covid-19 and government-imposed lockdowns across the world are trumping any fears of Fed hikes, as fund managers take a generally bullish stance in January, according to a report by the Bank of America.
In BofA's latest Global Fund Manager Survey, many investors said they are expecting inflation to fall as they look to the future brightly despite expected further tapering of quantitative easing programmes. Just 6% of those surveyed said Covid was the biggest tail risk for Wall Street, while only 7% expect a recession. The macro outlook regarding global growth and profit expectations also remained stable, with 71% anticipating a "boom", while over half of the global fund managers believe inflation will be transitory. Some 36% of the fund managers believe inflation is permanent, howeve...
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