"In a month when global economic sentiment continued to rise, profit expectations have continued to fall," according to Bank of AmericaMerrill Lynch's survey of fund managers for September. A net 17% of the global panel expects the world's economy to strengthen in the coming 12 months, a rise of two percentage points since August, BofA ML says. However a net 28%--up from a net 21% a month ago--indicated that they expected corporate profits to deteriorate over the same period, BofA ML adds. Investors are growing increasingly impatient with corporates, with 59% of respondents saying they thought that corporates were under-investing, that's up from 54% in August.
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