Inflation concerns overtake Covid-19 as top tail risk for fund managers

BofA's March survey shows that, for the first time since February 2020, the pandemic is not managers' number one tail risk concern, having been surpassed by inflation and taper tantrums, which were identified as the biggest risk by 37% and 35% of respondents respectively.   Higher inflation in the next 12 months is expected by 93% of fund managers, representing a 7% month-on-month increase to an all-time high. However, fund manager sentiment was found to be "unambiguously bullish", with 91% of respondents expecting a stronger economy, representing the "best economic outlook ever" for ...