Banking turmoil pounding investor confidence, show surveys

Investor confidence globally is at its lowest level in 20 years due to the US banking system chaos and renewed recession fears, with a recent BoA survey showing investors are taking on heightened risk levels. European fund managers are reportedly especially pessimistic, with a third of respondents saying “a systemic credit event” appears to be the most significant market threat. In Germany, another survey shows a significant decline in investor sentiment. Following the recent collapses of Silicon Valley Bank and Signature Bank, concerns have grown over the prospects of other potential bank crises occurring.