Deep Tide TechFlow message: On July 15, a Bank of America survey of global fund managers showed that fund managers’ bullishness toward the US stock market reached its highest level since December 2024. Net 24% of respondents believe US stocks will outperform other regions, which is the third-highest allocation weight to the US stock market over the past five years.

By contrast, investors cut back their allocation to UK stocks. Fund managers’ confidence in stocks listed in London fell to the lowest point since August 2020. Compared with other regions, the UK stock market has been weak so far this year. Year to date, the UK FTSE 100 index in London is up 5.7%, while the S&P 500 has risen by more than 10%.