Bank of America(US:BAC) 日经中文网·2025-05-15 03:06Core Viewpoint - The proportion of U.S. stocks held by institutional investors has dropped to its lowest level in nearly two years due to uncertainties surrounding tariff policies and economic concerns, leading many investors to shift their funds to Europe and other regions [1]. Group 1: Institutional Investor Survey Findings - The survey conducted by Bank of America (BofA) from May 2 to May 8 indicates that the net allocation of U.S. stocks has turned negative, with a difference of -38% between investors who are overweight (bullish) and those who are underweight (bearish) [1]. - Among various regions, only Europe saw an increase in asset allocation from institutional investors during this period [1]. Group 2: Market Sentiment and Strategy - BofA Securities' Chief Japan Equity Strategist, Masashi Sato, noted that the end of U.S. reciprocal tariffs is not yet in sight, and there is a perspective that funds previously concentrated in the U.S. may diversify, making European stocks a target for investors [1].