84% in BofA Fund manager survey says US Fed will signal taper by year end

The BofA Survey was conducted between August 6 and 12 with over 250 panelists with $749 billion in assets under management (AUM) participating

In the latest Global Fund Manager Survey (FMS) by BofA, 84 per cent of them anticipate the Federal Reserve to signal taper by year-end. Even the global growth expectations have fallen drastically, and FMS have increased the cash levels upto 4.2 per cent in August.

“Twenty-eight per cent of investors expect the Fed to signal tapering at Jackson Hole, 33 per cent of investors think September federal open market committee (FOMC) while 23 per cent of investors think Q4 2021. Note that the timing of the first-rate hike has been pushed back into 2023,” said the report.

The BofA Survey