Nov 13 (Reuters) – U.S. corporate bond investors were focusing on companies deemed best able to withstand an economic downturn, according to a November survey by Bank of America (BAC.N) which found 59% of those surveyed listing a potential mild recession as their top concern, up from 56% in its prior survey.
Some 31% of survey participants saw a soft landing: slower but positive growth and lower inflation which translated to a relatively benign outlook for the U.S. economy in 2024.
The next greatest concern was geopolitical risk in the Middle East followed by the risk of more defaults in commercial real estate debt.
Corporate bond investors are more selective with their funds, as their cash levels declined in November from September,…