Bank of America fund manager survey highlights optimism in a soft landing, equities ...Middle East

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Bank of America fund manager survey highlights optimism in a soft landing, equities
Volatility in in August markets led to something of a reset in markets, with high-conviction trades being tested by rapid drawdowns. Zooming out though, fund managers have a relatively consistent view of a soft landing scenario."Core optimism on soft landing (76%) & US large cap growth stocks [is] unbowed," Bank of America analysts write. "Just that investors now think Fed needs to cut harder to guarantee no recession."Cash levels rose to 4.3% from 4.1% but are still at the low end of historical norms.There was certainly some deteriorating in the survey with the percentage of managers expecting slowing global growth falling rapidly, though still above levels from earlier this year.55% of fun

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