FUND MANAGERS GO HEAVIEST ON TECH SINCE 2020

Global fund managers have not been this overweight technology stocks, the group tracked by $XLK, since August 2020. Bank of America's monthly survey found 37% of managers overweight the sector in October, up from 30% in September. The rotation comes even as nearly half of those same respondents say they expect an AI bubble to form in 2027, a sign the crowding into tech is conscious, not accidental.