‼️ 🐂 BREAKING: Bank of America Securities’ latest global fund manager survey shows investor sentiment at its third-most bullish level since 2022, with portfolios already reflecting that optimism: cash holdings have fallen to 3.5%, below BofA’s 4.0% contrarian sell-signal threshold, while managers are a net 56% overweight global equities. Respondents also do not expect the Federal Reserve to raise rates before the midterm elections, despite fed funds futures still implying a meaningful probability of at least one 25-basis-point hike before November
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