BofA's June Swoon is just a chip away

I did a quick read of the BofA May 2026 Fund Manager Survey coverage, so you don't have to. Here are some interesting points that didn't get as much attention: Cash levels dropped to 3.9%, which is below the threshold historically associated with market turning points. In one month, equity allocation jumped from being 13% overweight to a worrying 50% overweight – this was the largest move on record since 2001. According to Hartnett, the market is just a "chip shot" away from triggering a sell si