AI is almost the only job that matters: BofA survey

The conclusion of Bank of America’s November survey of global fund managers is that they are so excited about stocks and commodities that their positioning has become “a headwind, not a tailwind, for risk assets.”

Additionally, stocks face another correction, BofA said – following the selloff that began this month – if the Federal Reserve fails to cut interest rates in December. The chance of a rate cut is 50 percent, compared to more than 90 percent a month ago.

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