The sovereign debt crisis coupled with persistently high unemployment rates in the United States and continued fears over the 2008 financial meltdown has rocked investor confidence, so much so that investor mood has completely turned around in the past month.

According to the Bank of America Merrill Lynch Survey of Fund Managers for July, released Tuesday, 12% expect the global economy to deteriorate in the next year, compared with June’s results when 24% forecast the economy to strengthen. July’s results were the first negative forecast since February 2009.

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