BofAML: Number of investors bearish on global growth at ten-year high

The survey of 231 participants with a total of $646bn in assets under management globally ran between 5-11 October and found net 38% of respondents are predicting a deceleration in growth, the most since November 2008. Furthermore, a record 85% of respondents believe the global economy is in late cycle, 11 percentage points (ppt) above previous highs seen in December 2007. A net 20% of respondents predicted global profits will deteriorate over the next 12 months with sentiment at a  two-year low, marking a reversal from January's survey, where a net 39% predicted an improvement. In...