Investors most bearish on global growth since 2007: BAML survey

Omkar Godbole FXStreet Contributor

BAML October Fund Manager Survey (FMS) has found investors most bearish on global growth since 2007, according to Reuters.

Key points

The average cash balance holds steady at 5.1%, well above the 10-year average of 4.5%, as investors stay bearish.
A record 85% of survey respondents think the global economy is in the late cycle, 11ppt above prior highs in December 2007.
A net 38% of respondents expect deceleration, the worst outlook on global growth since November 2008.
The investors think the USD is very overvalued, notably against EM currencies which are seen as never having been more undervalued in survey history.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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