Fund Managers Call Time on Global Economic Expansion

Bank of America Merrill Lynch recently surveyed their global fund manager clients asking them the following question: “How do you think the global real economy will develop over the next 12 months? Interestingly, a majority now expect the global economy to weaken next year. While some may take this as a contrary indicator, the fund manager universe has actually been quite accurate at forecasting global economic slowdowns in the past. Perhaps they have been a little early in calling previous recessions (1997 and 2004/5) but generally they are quite a shrewd group and their market views should be respected. The world’s longest bull market looks set to end in the not too distant future, if it has not already done so.

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