Investors bearish but no longer 'apocalyptically', says BofA poll

But fears of economic slowdown continued to rise, with 58% of investors anticipating a global economic recession in the next 12 months, up from 47% last month and the highest since May 2020

Investors are still bearish but no longer "apocalyptically" so, according to Bank of America's (BofA) monthly survey of global fund managers in August, as hopes rise inflation and interest rates shocks will end in the coming quarters.
 

BofA, which polled investors overseeing $836 billion in assets between Aug. 5-11, said on Tuesday they had cut back a net underweight position in equities to minus 26%. That was an improvement on the low of minus 44% in July, a level last seen in the 2008 global financial crisis.
 

But fears of economic slowdown continued to rise, with 58% of investors anticipating