Recession risks duel resilience hopes in global economy outlook

BofA reported fund managers were the most bearish they'd ever been about the outlook for growth and JPMorgan Chase & Co. boosted its reserves to insulate itself against an economic deterioration

The fastest inflation in decades and the resulting rush by central banks to raise interest rates are stoking recession fears in financial markets -- worries that are being compounded by the impact of aggressive coronavirus lockdowns in China and the war in Ukraine.

In the last week alone, the the U.S. and U.K. logged inflation accelerating the most since the early 1980s and the central banks of Canada and New Zealand provided a model for the U.S. Federal Reserve and others by hiking rates 50 basis points for the first time in 22 years. 

Bank of America Corp. reported fund managers were