BofA September Global Fund Manager Survey: Top risk shifts to the bond market! US Treasury yields surpass the AI bubble, cash positions rise

Zhito Finance APP has learned that BofA released its September 2026 Global Fund Manager Survey. This survey covered 190 institutional investors with total assets under management of $512 billion. The report shows that institutions remain bullish on AI capital expenditure and the resilience of the global economy, but the core market risks have shifted. Fund managers slightly raised their cash positions, and risk appetite has pulled back, while remaining highly vigilant about the U.S. midterm elections and fluctuations in U.S. Treasury yields. Based on the survey data, this article interprets the current asset allocation logic of global institutions and the warning signals in the market.