A Bank of America survey of global fund managers, reported on 15 September 2026, found that worries about a disorderly rise in bond yields have replaced AI bubble concerns as the primary identified market risk. The survey marks a notable rotation in the dominant macro anxiety among professional investors, with bond yield volatility and US midterm election uncertainty also cited as factors moderating sentiment toward risk assets.
The survey's findings directly bear on sovereign and aggregate bond funds such as TLT and IEF, which are benchmark US Treasury ETFs whose prices move inversely to yields, and BND, a broad US investment-grade bond index fund — all instruments whose valuations are mechanically affected by the disorderly yield movements cited as the primary concern. Technology equities including Apple, Microsoft, and Nvidia were previously linked to AI bubble concerns that fund managers now rank as a secondary risk.
No official regulatory or central bank response to the survey findings was reported in the cluster at the time of publication.
Sources: Marketwatch TOP, Bloomberg Markets, Cnbc TOP