Bank of America's August global fund manager survey reveals that investor sentiment has reached the third most bullish level since 2022, with a record consensus conviction around a "no landing" economic scenario in which the economy continues to grow despite elevated interest rates.
Cash levels have dropped to an extremely low 3.5%, while global equity allocations have surged to a net 56% overweight — the highest since November 2021 — signaling extraordinary risk appetite among institutional investors.
