BofA Survey Shows Sentiment Drops to 3.7

BofA's Global Fund Manager Survey shows sentiment fell to 3.7 in April, the lowest since June 2025.
Global growth expectations turned net negative 36% from +7% in March, marking the sharpest monthly drop since March 2022.
Inflation expectations rose to a May‑2021 high, with 69% forecasting higher prices and 76% seeing stagflation risk.
Investors shifted to cash (4.3%), USD and telecoms, cutting global equity overweight to 13% and favoring emerging markets.