Some charts that are emblematic of the head-spinning nature of 2025: Investors just recorded the biggest 3-month rise in risk appetite on record, according to Bank of America's July fund manager survey (1/3)

"Short US dollar" became the most crowded trade for the first time in the BofA survey's history.

The past three months have been pivotal in so many ways on a macro level, but also sector level. The BofA survey recorded the biggest 3-month increase in tech stock exposure since March 2009.