China’s real estate sector seen as most likely source of global systemic credit event – BofA Sept fund manager survey
REAL ESTATE VIEWS & ANALYSIS
China’s real estate sector seen as most likely source of global systemic credit event – BofA Sept fund manager survey
REAL ESTATE VIEWS & ANALYSIS

China’s real estate sector seen as most likely source of global systemic credit event – BofA Sept fund manager survey

 

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China’s real estate sector is seen as the most likely source of a global systemic credit event, with one-third of respondents seeing it as having the greatest risk of a credit event, ahead of the 32% who see US and European commercial real estate as having the greatest risk, showed BofA’s September fund manager survey.

Investor perceptions of global economic growth, excluding China, have turned positive, with about three-quarters of respondents expecting a soft landing for the global economy, it showed. 

The survey also saw a record shift from emerging market equities to US stocks, with overall investors overweight US stocks for the first time since August last year.

Investors also remained bullish on Japan, with the highest level of overweight to Japanese stocks since December 2018, but no respondents expected China’s economy to be stronger over the next 12 months than at present, with 78% of respondents holding this view at the time of the February survey.