A Bank of America report revealed that investors are currently focusing on Maintaining cash More than at any time since April 2020, with increasing fears of a possible economic recession following the hike in US interest rates
The bank noted that cash funds received nearly $89 billion of liquidity in the week ending October 5, while investors pulled $3.3 billion from global equity funds.
The report showed that more than $18 billion exited bond funds during the same period.
Global CEOs had predicted a recession over the next 12 months, according to a new survey by professional services firm KPMG, which showed that more than half of business leaders surveyed expected the slowdown to be “mild and short”.
However, the majority of the 1,300 CEOs polled between July and August warned that growing turmoil – such as a recession – might make it difficult for their businesses to recover from the pandemic, according to CNBC. net”.
However, CEOs expressed more optimism compared to the beginning of the year and said there will be growth prospects in the next three years.
