‘Global Recession’ Now Highest Conviction Worry Since ‘Populism’ Ca. 2017

Back in February, "global recession" shot to the top of the worry list in BofAML's closely-watched European credit investor survey. That came as no surprise considering the deteriorating macro backdrop, but it was notable that at 30%, conviction in that assessment was strong. “Investors’ biggest worry has sharply pivoted to Global Recession (30%), the strongest consensus for any single worry since Jun-17 when Credit Bubbles was at 33%”, the bank's Barnaby Martin wrote at the time. Anothe