BofA survey shows third most bullish investor sentiment since 2022

Macro
โดย Seeking Alpha·GLOBAL·Read original
Summary · why it matters

Bank of America's August Global Fund Manager Survey ranks as the third most bullish since 2022, driven by a continued drop in cash reserves. Average cash levels fell to 3.5% of assets under management from 3.6% in July, the lowest since February 2026 and the sixth lowest since the survey began in 1998, keeping the BofA Global FMS Cash Rule sell signal triggered. Global equity allocation surged to a net 56% overweight, the highest since November 2021, with investors overweight equities for 14 consecutive months. Strategist Michael Hartnett noted a consensus belief in no macro landing, no Fed hike, no AI capex cut, and no bears, but BofA cautioned that extreme optimism and positioning suggest investors should retreat or rotate within risk assets rather than reload.

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