Investors have piled into US Equities reversing historic drops of the last few weeks. At the same time, the majority of them feel we are entering recession territory and the likelihood of a V Shaped recovery is low. So is the spike up in equities a reflection of overselling or classic momentum?
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Predicting The Future
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BofA analysts expect April to mark “peak pessimism”, with cash balances receding next month. However, the vast majority of the fund managers polled — 93 per cent — believe there will be a recession in the next 12 months. This is higher than the previous peak when 86 per cent predicted a recession during the 2008-09 financial crisis.
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