Bank of America’s latest fund manager survey said global investors who have been aggressively buying stocks should consider reducing their exposure, citing increasingly bullish positioning.
According to Odaily, the bank’s strategists said asset allocators have become extremely optimistic, which they described as a typical warning signal for markets.
The report said investors’ cash holdings fell to 3.6% of assets from 4.1% last month, a level the strategists called very low. It also said U.S. equity allocations were at their highest level since December 2024, with a net overweight of 24%.
A team led by Michael Hartnett wrote that Bank of America’s “Bull & Bear Indicator” rose to 9.4 on a scale of 1 to 10, placing it in an extremely bullish range. The team said this reading suggests reducing exposure to equities and high-beta assets, adding that overly optimistic positioning could limit further gains in risk assets during the summer.
Bank of America Strategists Say Fund Managers Should Cut Equity Exposure as Bullish Positioning Rises
2026-07-14 09:23:53
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