BofA Survey: Investor Bullish Sentiment on US Stocks Rises to Nearly Five-Year High, Few "Bears" Left in Market

According to Bloomberg, the latest Bank of America (BofA) fund manager survey shows that investors are continuing to increase their exposure to US equity assets, with bullish sentiment rising to a near five-year high and the number of bearish investors in the market significantly decreasing. Data disclosed by the team led by Bank of America strategist Michael Hartnett indicates that a net 56% of fund managers are overweight on stocks, the highest level since November 2021, while the investor cash allocation ratio has dropped to a "very low" 3.5%.