A majority of investors are still set on a Goldilocks soft landing scenario for the global economy, but hard landing concerns are on the rise, according to the latest Bank of America Global Fund Manager survey.
A soft landing is the base case for 59% of investors surveyed, while hard landing expectations are on the rise, up by nine percentage points to 30% in October. The optimistic outlook for the economy contrasts with an overall bearish sentiment, which is based on cash positions, equity allocation and growth expectations, with half of investors expecting a weaker economy over the next 12 months. One out of four investors expect there will be no recession in the next 18 months, but the share of investors expecting a recession in the first half of 2024 is rising. Bank of America forec...
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