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“FMS screams macro capitulation, investor capitulation, start of policy capitulation,” BofA said in the survey.
The share of investors anticipating lower short-term rates in the next 12 months doubled to 28% in October from 14% in September and versus only 5% in March, it said.
BofA polled 371 panelists overseeing $1.1 trillion in assets between October 7 and October 13.
