LONDON (Reuters) – An equity market correction of 5%-10% by the end of the year was the overwhelming consensus in a September market sentiment survey published by Deutsche Bank on Monday.
According to the report, conducted from September 7-9 and covering over 550 market professionals globally, 58% of respondents said they expected an equity selloff by year-end.
COVID-19 was still considered the biggest risk to market stability, with 53% of survey participants citing concerns over new virus variants that bypass vaccines. This was followed by higher-than-expected inflation.
The September survey also showed that belief in transitory inflation — as flagged by central banks — is edging down though it still remains the consensus.
Deutsche Bank also polled market professionals about their intentions to return to work following the pandemic and found that around one in five people still had not returned to their office since March 2020, when the pandemic triggered lockdowns globally.
This number was even lower in the United States at one in three, Deutsche Bank said.
(Reporting by Dhara Ranasinghe; editing by Sujata Rao)
