Fears over China hard landing, debt default subside

Fears of a hard landing and debt default in China have receded sharply, with a hefty increase in global fund managers who have moved to overweight the country. A net 6% of respondents quizzed in the monthly Bank of America-Merrill Lynch manager survey* expect China’s economy to improve over the next 12 months — the first positive reading in this poll since October. Global emerging market investors are now a net 75% overweight China, up from 17% in July and 19% underweight in Jun…