Geopolitics overtake inflation as investors' biggest 'tail risk' concern, survey shows

• Geopolitical turmoil is a top concern for markets, a Bank of America survey shows.
• Worries about inflation have dropped as prices cool and the Fed nears the end of rate hikes. 
• Despite worsening geopolitical sentiment, markets have yet to reflect the uneasiness.

Higher inflation is no longer the leading concern for investors surveyed by Bank of America, and worsening geopolitical conflict now sits in the top spot. 

In September, 40% of participants in a survey from the bank indicated that inflation-induced monetary tightness was the key tail risk facing markets. That number has since dropped to 25% in this month's iteration of the Global Fund Manager survey.