Wall Street Rebuffs Soft-Landing Dream as 92% Bet on Stagflation
- BofA investor survey shows a pervasive belief in stagflation
- Recent inflation data is promising as investors stay defensive
Pedestrians walk along Wall Street in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
On the most optimistic corners of Wall Street, promising inflation data over the past week or so suggest the Federal Reserve may accomplish a soft landing after all.
Yet no such belief prevails among the big money managers, who are betting that an economic downturn riddled with still-hot price pressures will define trading next year.