BofA Survey Says Investors Are Less Gloomy on Growth Over China
- Optimism around China growth surges, inflation seen easing
- Relative positioning in stocks vs bonds at lowest since 2009
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Investors are turning less negative on the global growth outlook for next year amid bets on a stronger Chinese economy, according to Bank of America Corp.’s latest fund manager survey.
Although the macro sentiment remains bearish, the number of investors expecting a weaker economy in 2023 fell to 69% from 73% last month, according to the survey of 281 fund managers overseeing $728 billion in assets. About three-quarters of participants expect stronger growth in China as it reopens from Covid restrictions, a jump from just 13% in November and the most positive outlook since May 2021, the survey showed.