Despite surging bond yields and oil prices holding above $100 per barrel, equity markets have shown resilience with significant year-to-date gains: the S&P 500 rose 10.8%, the Nasdaq 11.8% and the Dow Jones 8.4%. Bank of America’s latest survey of 170 investors overseeing $470 billion found that 49% remained overweight global equities in September, with 38% expecting a global economic boom in the coming year. Bond allocation hit its lowest level since May 2022. BlackRock strategists maintain their bullish stance on U.S. equities and AI, arguing that the recent AI sell-off creates buying opportunities for longer-term investors.
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