BofA's August global fund manager survey found 27% of respondents say their
allocation to US equities exceeds the US weight in the global benchmark, the
highest since Dec 2024 and up from 24% in July, indicating investors expect US
stocks to outperform. Year-to-date the S&P 500 is up 13% versus a 10% gain for
the Stoxx Europe 600; US equities nevertheless lag Japan and South Korea.
