Investors most pessimistic so far this year, BofA survey shows

Bloomberg/Ksenia Galouchko/5-16-2023

“The mood among global fund managers soured further in May, with investors flocking to cash amid concerns that a recession and credit crunch are looming, according to Bank of America Corp.’s latest survey.”

USAGOLD note: Given the run of today’s posts, the pessimism is justified. The demand for gold worldwide is a further indication of the concern reflected in the BofA survey.