1. BofA's survey reveals global fund managers' equity allocations hit a record high in May, as cash levels dropped and only 4% foresee a 'hard landing'.
2. The 20-year Japanese Government Bond (JGB) yield surged to its highest level since August 1996, signaling significant selling pressure in Japan's bond market.
3. Warren Buffett's Berkshire Hathaway increased its stake in Sumitomo Corp to 10.30%, reinforcing its confidence in the Japanese trading house.
Fund Managers Go Risk-On, JGB Yields Spike, Berkshire Buys More Japan
