Bank of America’s latest survey: A record proportion of fund managers believe U.S. stocks are "too expensive"!

According to the latest monthly fund manager survey by Bank of America, the proportion of investors who believe that U.S. stock valuations are too high has reached a record high of 91%. Despite the allocation to global equities rising to its highest level, 16% of investors still underweight U.S. stocks. Market sentiment has improved to the most optimistic level in six months, analysts have raised their expectations for the S&P 500 index, but strategists warn that the current rally may be overheating. The survey shows that 68% of respondents believe that the global economy may achieve a soft landing in the next 12 months, and inflation expectations have risen to a three-month high