BofA_Global Fund Manager Survey Magnificent Sentiment-240213

AccessibleversionGlobalFundManagerSurveyMagnificentSentimentBofAFebruaryGlobalFundManagerSurvey13February2024BottomLine:mostbullishFMSin2years,cashlevelscutto4.2%from4.8%asglobalInvestmentStrategygrowthexpectationshit2-yearhighsandinvestorsgoall-inonUStech;BofABull&GlobalBearIndicatorat6.8…investorpositioningincreasinglyaheadwindforriskassets.MichaelHartnettOnMacro:forfirsttimesinceApr’22,investorsnotpredictingrecession(Chart1),InvestmentStrategistglobalgrowthoptimismhighestsinceFeb'22(net-25%);askedforpathofeconomythisBofASyear,2/3ofinvestorssay"softlanding,"1/5say"nolanding,"1/10say"hardlanding."+16468551508michael.hartnett@bofa.comOnPolicy:lowerinterestratesthecatalystforoptimism:just4%expecthighershortElyasGalou>>rates,just7%expecthigherinflationand85%sayyieldcurvewillsteepen;noterecordInvestmentStrategist46%sayfiscalpolicy"toostimulative."BofASE(France)+33187700087OnCrowds&Leaders:“longMagnificent7”mostcrowdedtradesince"longUS$"inelyas.galou@bofa.comOct'22(=biginflectionpoint);“shortChinastocks"2ndmostcrowdedtradeand1/4sayAnyaShelekhinstructuralUWofChinaisrightstrategy;leadershipofUSequitybull:41%say"largecapInvestmentStrategistgrowth,"18%"smallcapgrowth,"12%"smallcapvalue,”11%“largecapvalue.”BofAS+16468553753OnAA:globalequityallocationat2-yearhigh,allocationtoUSstockshighestsinceanya.shelekhin@b...