July 14—Jin Ten Data News: Bank of America released its latest Global Fund Manager Survey, showing that global institutional investors’ risk appetite has rebounded to an intra-year peak for February.

Most fund managers are optimistic about the outlook for a global economic recovery, support the AI sector’s capital expenditure, and are also betting on the Federal Reserve shifting toward a dovish stance. On the capital side, institutional cash holdings have fallen sharply to 3.6%, down noticeably from 4.1% in June. This low-cash indicator triggered BofA’s contrarian bearish signal. The survey also hit a record high share of institutions betting that the economy will not experience a hard landing.

The survey period ran from July 2 to 9. The timing is special, falling in the middle stage between the temporary ceasefire between the US and Iran being reached and the subsequent escalation of geopolitical tensions.
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