BofA survey: 55% of investors think Fed will cut twice this year
A recent Bank of America survey reveals that 55% of investors expect the Federal Reserve to cut interest rates twice before the end of the year.
"CB investors have pulled-forward their expectations for rate cuts, and they overwhelmingly think that interest rates will head south over the next 6 months," the BofA note states. The survey indicates that"average cash balances in CB manager portfolios have dropped to record lows," reflecting a strong risk-on mentality.
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