Investors Grow Bullish on Stocks, Spurn Bonds, BofA Says
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Investors have raised equity allocations to the highest level in 2 1/2 years after turning skeptical of bonds, and prefer euro-area shares to American stocks, a Bank of America Corp. survey showed.
A net 60 percent of 172 global fund managers, who together oversee about $518 billion, were overweight on stocks, the highest level since February 2011, according to the survey. Three out of four investors said they believed bond yields will be higher in 12 months.