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The percentage of global fund managers who believe most asset classes are overvalued has risen to nearly 50% – the highest level since 2008, according to a Bank of America (BofA) fund manager survey released on Tuesday. 

Key points (source: Business Insider)

Investors are most bullish on since the February start of the pandemic-induced market sell-off. 

The sentiment is still “far from dangerously bullish”.

The most crowded trades among portfolio managers include long US tech stocks and long gold.