Risk appetite is surging among global fund managers, with equity allocations hitting eight-month highs and cash levels dipping dangerously low. Still, optimism is colliding with mounting fears over private credit blow-ups and a potential AI stock bubble.
The latest Bank of America Global Fund Manager Survey for October reveals a sharp uptick in bullish sentiment, reaching its highest point since February.
The net equity overweight jumped to 32%, the most since early 2025, while the average cash level slipped to 3.8%, below a threshold that triggered a contrarian sell signal.
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