ASR’s Asset Allocation Survey in Bloomberg’s Much Ado about Banking, by John Authers
3rd APR. 2023
John notes in his column that the ASR survey of asset allocators for the second quarter (based on interviews that took place during the worst of the banking upheaval) “found the deepest pessimism since the survey started in 2015 . . .
. . . a period that includes the Chinese devaluation that year, the Brexit referendum, and the Covid-19 pandemic”. “This is driven primarily by concerns about financial stability”.
The ASR survey saw a major shift in Fed funds rate expectations and global monetary conditions. The panel is increasingly worried around corporate credit and there is little change to their bearish macro view.
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