According to Bank of America’s monthly global fund manager survey, respondents said they expect global growth to remain unchanged over the next 12 months, with 53% stating they do not expect a US recession in the next 18 months. Only 8% predicted a recession in the second half of 2024, while 30% offered a 2025 recession bet.
On rates, 8% of managers said they expect no Federal Reserve cuts in the next 12 months, while 78% expect at least two cuts to take place in the coming year, with the earliest forecast for September.
Overall, only 5% of respondents expected a weaker economy in the…