By Anvee Bhutani

Global fund managers are piling back into stocks, with the most bullish positioning since February, Bank of America's latest monthly survey shows. Some key points:

-- Only 5% now expect a "hard landing" for the global economy.

-- But a record 91% say U.S. stocks are overvalued. Allocations to emerging markets hit a two-year high.

-- Some 45% of respondents said they thought buying the "Magnificent Seven" tech stocks was the most crowded trade.

-- However, more than half say artificial intelligence is already boosting productivity and see no bubble in AI stocks.

-- Trade-war risks are still investors' top concern, followed by stubborn inflation and disorderly bond moves.

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(END) Dow Jones Newswires

August 11, 2025 08:55 ET (12:55 GMT)

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