NO “BIG TOP” YET IN RISK ASSETS, BOFA SAYS
Investor sentiment is near peak levels but not yet at a major market top, BofA’s survey shows. Its Bull & Bear Indicator hit 8.9, a technical sell signal, though cash rose slightly to 4.1%. Fund managers trimmed equity and tech exposure, stayed cautious on Europe, and added Japan and banks. Inflation and AI bubble risks dominate concerns, while bonds, Europe and consumer stocks are seen as contrarian opportunities.
BofA survey shows investor sentiment near peak but not at major top yet. Bull & Bear Indicator at 8.9 (technical sell signal), cash at 4.1%. Fund managers reduced equity/tech exposure, cautious on Europe, added Japan/banks. Main concerns: inflation and AI bubble risks.
