Fund managers headed into last Friday's downturn at their most bullish level in eight months
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Bank of America's monthly survey revealed that fund managers entered last Friday's downturn with their most bullish sentiment in eight months. The survey indicated a high level of optimism, with cash levels at 3.8% and strong stock allocation. However, concerns about risks from private equity and an AI bubble were noted, with 33% identifying the AI bubble as the top risk. The survey was conducted just before a significant drop in the S&P 500 and highlighted a shift in focus away from trade risks.
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