BofA survey shows investors don’t expect stock rally to last

Bloomberg

While equity markets are on a relentless march higher amid optimism around stronger economic growth and cooling inflation, most investors aren’t convinced the gains will last, according to Bank of America Corp’s (BofA) latest global fund manager survey.
About 66% of participants in the bank’s February survey said stocks are seeing a bear market rally — signalling they expect them to return to
new lows.
That’s even as the share of investors expecting a global recession fell to 24%, down from a peak of 77% in
November.