"Sell Signal" Triggered In Latest BofA Fund Manager Survey: Record Surge In Equity Allocation, Plunge In Cash Levels

With stocks levitating in a straight, diagonal line from the post-war bottom in late March - a move driven entirely by a offside positioning and a historic squeeze in a handful of memory, chip and AI stocks on hopes that trillions in debt-funded capex will magically trickle down in perpetuity to feed an AI beast whose return on invested capital still remains a giant mystery - it will probably not be a surprise to anyone that Bank of America's latest Fund Manager Survey (available here for pro subs) reveals a record rise in equity allocation among Wall Street's investment professionals...