Investors’ fears of a recession are at their highest levels since the 2020 coronavirus pandemic, as a net 58 percent of fund managers admitted to taking fewer risks than usual, a Bank of America survey revealed.
Seventy-nine percent of fund managers expect corporate profits to decrease, which is higher than during the pandemic or the 2008 Financial Crisis, theInvestors were also recorded to reduce their activity in the stock market but increased their cash holdings to over 20-year highs.
The market is also at maximum “bearishness,” but that may lead to a rally in the stock market, according to the survey.
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