What recession? Investors surveyed by Bank of America just reported a record jump in economic optimism
Expectations that global growth will improve in the next year jumped to net 29% of respondents in December, according to Bank of America's Global Fund Manager Survey released Tuesday. It's also a sharp contrast from earlier in the year, when the survey showed intense fear of a global recession.
That's the biggest two-month jump on record according to the survey, which in early December questioned 199 participants with a combined $627 billion in assets under management. "In the last two months FMS investors have priced out recession risks," wrote Bank of America analysts led by Michael Hartnett.
Global growth expectations have jumped a record 66 percentage points while recession fears have fallen 33 percentage points in the same timeframe, the survey showed. And, net 68% say that it's unlikely a recession will hit in 2020, the largest two-month drop since May 2009, according to the survey.when global growth optimism finally pushed into positive territoryIt's a sharp contrast from earlier in the year, when the survey showed intense fear of a global recession.
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