If professional investors are worried that rising global bond yields will disrupt the stock bull market, then judging from their capital allocation, you can't even guess that they have this kind of concern. According to Bank of America's latest global fund manager survey, stocks accounted for 56% of these fund managers' portfolios, the highest since November 2021. While the survey results showed that fund managers are bullish on stocks, the same survey also showed that “disorderly rise in bond yields” is seen as the second biggest threat facing the stock market, second only to concerns about the AI bubble. In terms of related risks, 25% of respondents ranked the second wave of inflation as the biggest risk. Tyler Richey, editor of the Sevens Report Technicals newsletter, said in a telephone interview that the sharp rise in yield is an “elephant in the room”. The stock market has repeatedly reached new highs in the past year, but it has been difficult to maintain near historical highs. This may damage the stock market.
智通財經·08/20/2026 16:57:05
語音播報
If professional investors are worried that rising global bond yields will disrupt the stock bull market, then judging from their capital allocation, you can't even guess that they have this kind of concern. According to Bank of America's latest global fund manager survey, stocks accounted for 56% of these fund managers' portfolios, the highest since November 2021. While the survey results showed that fund managers are bullish on stocks, the same survey also showed that “disorderly rise in bond yields” is seen as the second biggest threat facing the stock market, second only to concerns about the AI bubble. In terms of related risks, 25% of respondents ranked the second wave of inflation as the biggest risk. Tyler Richey, editor of the Sevens Report Technicals newsletter, said in a telephone interview that the sharp rise in yield is an “elephant in the room”. The stock market has repeatedly reached new highs in the past year, but it has been difficult to maintain near historical highs. This may damage the stock market.