Latest BofA survey of Fund Managers reflects concern about the sustainability of the recent market rally and a consensus that the likelihood of a V shaped recovery is diminishing. Sanity appears to be prevailing, but there remain many reasons why staying in the market is the right thing to do - don't bet against the Fed.
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A majority of investors believe the global stock market rally will soon swing into reverse, with a second wave of coronavirus cases topping their list of worries.
About two-thirds of fund managers polled in a monthly Bank of America survey said the rise in stocks since March was a “bear market rally” — a strong but doomed bounce — against a background of dire economic data.
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