Bank of America Investor Survey Forecasts GOP Victory in Midterms

House Minority Leader Kevin McCarthy of Calif. gestures while speaking during his weekly press briefing on Capitol Hill, Thursday, Sept. 30, 2021, in Washington. (AP Photo/Andrew Harnik)
AP Photo/Andrew Harnik

A plurality of global fund managers expect both the Senate and the House of Representatives will come under Republican control after the midterm elections, according to BofA’s first fund manager survey of the year.

Thirty-five percent of investors surveyed believe Republicans will win control of both houses of Congress this November, according to a Bank of America client note. Around 20 percent believe the GOP will win control of the Senate, with Democrats holding on to the House. Around fifteen percent say the GOP will capture the House but leave Democrats in control the Senate.

Just four percent think Democrats will retain both the Senate and the House.

The majority of investors say that they believe inflation is transitory and a net 48 percent forecast lower inflation ahead, the highest reading for that metric since 2009. Just seven percent expect an inflation over the next 12 months.


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