Global investors turn most bullish since February, BofA survey shows

Global investors turn most bullish since February, BofA survey shows Reuters Tue, July 14, 2026 at 9:30 AM GMT+2 1 min read BAC MILAN, July 14 (Reuters) - Global investor sentiment has climbed to its strongest level since February, with fund managers growing more ‌optimistic on the economic outlook, artificial intelligence-linked spending and the ‌prospect of a dovish Federal Reserve, Bank of America's latest Global Fund Manager Survey ​showed. Cash allocations fell to an "uber-low" of 3. 6% from 4.

1% in June, level that triggered BofA's contrarian sell signal, while a record share of respondents said they expect a "no landing" for the global economy. The survey was ‌carried out between July ⁠2 and July 9, after the interim deal to end the U. S.

-Iran war and largely before hostilities resumed. Key ⁠findings from the July survey in more detail: • Investor sentiment rose to its highest level since February, reflecting optimism about economic growth, AI-related capital ​expenditure and ​expectations for easier monetary policy. • A ​record 54% of respondents expect ‌a "no landing" scenario for the global economy, while only 2% anticipate a hard landing.

• U. S. equity allocations were raised to the highest overweight position since December 2024.

• Long global semiconductor stocks remained the market's most crowded trade for a third consecutive month, cited by 82% ‌of investors. • While some investors trimmed technology ​positions in July, none reported being short ​the sector. • 61% of ​respondents say hyperscalers are unlikely to cut capital expenditure ‌this year, versus 28% expecting reductions.

• ​AI bubble risks ​rose to the top spot among largest tail risk facing markets, pointed to by 45% of respondents. • 83% do not expect ​the Fed to ‌raise interest rates before the U. S.

midterm elections in November. • ​Investors cut their end-2026 oil price forecast to $71 a barrel ​from $86 in June.