Jan/Feb market sell-off was an just an appetizer: BofA Securities survey

Global growth optimism, according to the survey findings, was at an all-time low, with recession fears surging in the world's investment community.

The possibility of faster-than-expected rate hikes by the US Federal Reserve (US Fed) has made fund managers cautious on the road ahead for the markets, with those surveyed across the globe by BofA Securities in April expecting 7 hikes by the US central bank (up from 4 hikes earlier). In this backdrop, they suggest selling stocks on a rally in equity markets.

"April fund manager survey (FMS) is bearish as fear of fast & furious Fed sends global growth optimism to all-time low, keeps Wall Street stability risks high; though not as bearish as war-shocked March FMS. We remain in