Bank of America's monthly survey shows that fund managers are preparing to welcome the new year with strong confidence in all aspects of economic growth, stocks, and commodities. The investor sentiment index, measured by cash levels, stock allocations, and global growth expectations, rose to 7.4 in December, the most optimistic survey results in four and a half years. The total allocation ratio of stocks and commodities — such assets usually perform well during economic expansion — has risen to its highest level since February 2022, just before global interest rates rose sharply due to the inflationary shock caused by the COVID-19 pandemic. Bank of America strategist Michael Hartnett points out that this century has only seen such a level of optimism eight times. These periods include the recovery period from the global financial crisis from November 2010 to February 2011, and the boom period from November 2020 to July 2021 after the pandemic.

Bank of America's monthly survey shows that fund managers are preparing to welcome the new year with strong confidence in all aspects of economic growth, stocks, and commodities. The investor sentiment index, measured by cash levels, stock allocations, and global growth expectations, rose to 7.4 in December, the most optimistic survey results in four and a half years. The total allocation ratio of stocks and commodities — such assets usually perform well during economic expansion — has risen to its highest level since February 2022, just before global interest rates rose sharply due to the inflationary shock caused by the COVID-19 pandemic. Bank of America strategist Michael Hartnett points out that this century has only seen such a level of optimism eight times. These periods include the recovery period from the global financial crisis from November 2010 to February 2011, and the boom period from November 2020 to July 2021 after the pandemic.