BIGGEST RISKS IN 2025 ARE DISORDERLY BOND-YIELD RISE, FED RATE HIKES, TRADE WAR: BOFA SURVEY A disorderly rise in bond yields, rate increases by the U.S. Federal Reserve, and a global trade war are the scenarios that fund managers consider would be the most negative for risky assets in 2025, Bank of America's January global fund managers' survey found. A total of 36% of fund managers polled in the survey mentioned a disorderly bond-yield rise, 31% said Fed rate hikes, and 30% global trade war. Inflation causing the Fed to hike rates was seen as the biggest tail risk--a risk of losses occurring due to an unlikely event--and cited by 41% of respondents. An acceleration in Chinese growth was viewed as the most positive potential development for risky assets, cited by 38% of respondents