BlockBeats news, on May 19, according to the latest survey by Bank of America, cash levels among respondents dropped from 4.3% to 3.9% in May, marking the largest monthly decline since February 2024. The survey found that 40% of respondents viewed a second wave of inflation as the greatest tail risk, while only 4% of portfolio managers expected a "hard landing" for the economy.
On geopolitical matters, 66% of respondents expect the shipping bottleneck in the Strait of Hormuz to end within the coming months. Regarding U.S. Treasury yields, 62% of respondents anticipate the 30-year U.S. Treasury yield to reach 6%, while an additional 20% expect it to reach 4%. Meanwhile, global fund managers increased their equity allocations to a record high in May.