Global equities are benefiting from an increasingly positive outlook by investors, according to the latest BofA Merrill Lynch Survey of Fund Managers.

Just over half of fund managers, 55%, say they’re overweight in global equities, the largest proportion since July 2007. Just last month, only 40% of fund managers said they were overweight in international stocks. The additional assets appear to have come from bonds—54% of fund managers are now underweight in bonds, from 47% in December.

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