Investor sentiment is bearish as growth and profit expectations fall, according to the Bank of America Merrill Lynch (BofAML) July Fund Manager Survey.
A trade war is still the biggest risk highlighted by respondents (60 percent), with investor conviction the highest since July 2012 when there were concerns about EU sovereign debt funding.
A small proportion (11 percent) of respondents expect global growth to speed up in the next year, which is 12 percentage points (ppt) lower than in June and the lowest level since February 11, 2016 when the S&P hit an low of 1810. However, only nine percent do not ex...
