STOCKS | Global Fund Manager Sentiment Hits Highest Since February, Survey Finds

Global investor sentiment has risen to its highest level since February, according to a Bank of America global fund manager survey. According to Jin10, the survey said fund managers were more optimistic about the global economic outlook, spending tied to artificial intelligence, and expectations that the Federal Reserve would adopt a dovish policy stance. The survey showed cash allocations fell to 3.6% from 4.1% in June, which it described as an "extremely low" level that triggered Bank of America's contrarian sell signal. It also said a record share of respondents expected the global economy to achieve a "no landing" outcome. The survey was conducted from July 2 to July 9, in the period after the United States and Iran reached a temporary ceasefire agreement and before their conflict escalated again.