BofA's latest global fund manager survey shows sentiment at its strongest since
February. Managers are more optimistic on global growth, AI-related spending and
expect the Federal Reserve to adopt dovish policy. Cash allocations fell to 3.6%
from 4.1% in June — an "extremely low" level that triggered BofA's contrarian
sell signal. A record share of visitors expect a "no-landing" global economy.
Survey period: July 2-9, between a temporary US–Iran ceasefire and a subsequent
escalation of hostilities.
