Global investors and fund managers are increasingly concerned about the potential wave of stagflation expected to hit within the year, according to a recent Bank of America survey.
BoA’s latest fund manager survey, conducted on June 14, found that 83 percent of investors surveyed expect a major downturn in economic growth and rising inflation to sweep the markets within the next 12 months.
This is up from 77 percent in May, the highest recorded since June 2008.
The survey said that investor morale had not been that low since June 2008, before the Great Recession, according to BoA.
The collapse of investment bank Bear Stearns was only a few months away and rising oil prices were already spooking markets ahead of the collapse later that year….