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Lisa Abramowicz, journalist and co-host on Bloomberg TV/Radio, reports that investors are increasingly discounting the possibility of a recession according to the latest BofA fund manager survey.
The survey finds that 54% of respondents expect a "no landing" scenario for the economy, the highest on record, while only 2% anticipate a hard landing. Market sentiment is now the most bullish it has been since February, and 83% believe there will be no Federal Reserve rate hikes before the midterms.
Abramowicz has recently reported on shifting moves in both the equity and bond markets. She noted that Microsoft shares posted their steepest monthly decline since 2008. Earlier, she highlighted that the yield gap between U.S. 2-year and 10-year Treasuries narrowed to its smallest in a year. These developments follow a period of notable market adjustments.