ChainCatcher, citing a report from Jin10, reported that Bank of America’s June global fund manager survey showed a clear shift in investors’ views on the U.S. interest-rate path over the next year. According to the survey, 40% of investors expect the Federal Reserve to raise interest rates at least once within the next 12 months, up from 16% in May.
At the same time, the share of investors expecting at least one rate cut over the next 12 months fell to 28%, compared with 50% in the previous month. The survey results show that, within this respondent group, fewer investors now expect rate cuts, while a larger share expects at least one rate increase.
The survey also found that 28% of respondents expect the federal funds rate to remain unchanged over the next 12 months. Bank of America conducted the June global fund manager survey from June 5 to June 11. The results were reported by Jin10 and relayed by ChainCatcher.