More NewsInvestors Expecting Recession

Investors Expecting Recession

The majority of fund managers believe that the global economy is in recession, according to research by Merrill Lynch. The institution’s monthly survey of fund managers has revealed that 70% of those industry insiders believe that a recession is already present. This is a significant increase of 44% in last month’s study, with the results of the survey released as global equity markets dropped by 18.7%. Looking at the results on a geographical basis shows that nine in 10 fund managers in the eurozone expect economic conditions to get worse over the coming months, while respondents in the US are also expecting a ‘deep and prolonged US recession’. Gary Baker, head of EMEA equity strategy at Merrill Lynch, said: “Fund managers are waiting for the triggers that will give them the confidence to buy. What they are looking for is a loosening of monetary conditions and for third quarter earnings to clarify where problems and opportunities lie across equity markets.”

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