" \\r\\n<br><div id=\\"RegularArticle-ArticleBody-5\\" data-module=\\"ArticleBody\\" data-test=\\"articleBody-2\\" data-analytics=\\"RegularArticle-articleBody-5-2\\"><span class=\\"HighlightShare-hidden\\" style=\\"top:0;left:0\\"\\\/><div class=\\"InlineImage-imageEmbed hasBkg\\" id=\\"ArticleBody-InlineImage-105682454\\" data-test=\\"InlineImage\\"><div class=\\"InlineImage-wrapper\\"><div><p>The Charging Bull near Wall Street is pictured in New York.<\\\/p><p>Carlo Allegri | Reuters<\\\/p><\\\/div><\\\/div><\\\/div><div class=\\"group\\"><p>A widely watched Bank of America survey shows high confidence in the economic and market outlook\\u00a0 with investors dumping cash to take part.<\\\/p><p>But the firm says the shift in sentiment should raise eyebrows of contrarians looking for signs of extreme optimism to mark a market turning point.<\\\/p><p>\\"The only reason to be bearish is \\u2026 there is no reason to be bearish,\\" Bank of America chief investment strategist Michael Hartnett told clients.<\\\/p><p>A majority of investors finally agree the V-shaped recovery is at play, according to the Bank of America Global Fund Manager Survey, one of the longest-running and widely followed polls of Wall Street investors. Plus, a record percentage of money managers believe that global growth is at an all-time high.<\\\/p><p>Bank of America surveyed 225 mutual fund, hedge fund and pension fund managers with $645 billion under management. The survey has been around since 1998.<\\\/p><p>Here are some of the key findings:<\\\/p><ul><li>More than 90% of investors believe the economy will be stronger in 2021 with a consensus that it's a V-shape recovery. For the first time since January 2020, chief investment officers want to increase capital spending rather than improve balance sheets.<\\\/li><li>Fund managers' allocation to cash is down to 3.8%, the lowest since March 2013, just before the \\"taper tantrum\\" era under former Federal Reserve Chairman Ben Bernanke. Allocations to stocks and commodities are the highest since February 2011.<\\\/li><li>The survey shows a preference towards cyclical stocks, high exposure to commodities, emerging markets, industrials and banks relative to the past 10 years.<\\\/li><li>Investors say potential risks include the vaccine rollout, inflation, crowded trades in tech, long bitcoin trades and shorting the dollar trades.<\\\/li><li>Only 13% of respondents said stocks are in a bubble.<\\\/li><\\\/ul><p>Stocks are hovering around all-time highs as investors bet on a successful rollout of the Covid-19 vaccine, economic reopening and expectations for more fiscal stimulus.<\\\/p><p>Plus, the\\u00a0<a href=\\"https:\\\/\\\/www.cnbc.com\\\/quotes\\\/?symbol=.VIX\\">Cboe Volatility Index<\\\/a>, widely viewed as Wall Street's best fear gauge, broke below 20 on Friday, marking the first significant breach of the threshold since the pandemic-induced sell-off began in February 2020.<a href=\\"https:\\\/\\\/www.cnbc.com\\\/2021\\\/02\\\/16\\\/wall-streets-fear-gauge-breaks-below-20-a-key-level-that-may-trigger-more-buying.html\\">The crack of the 20 level<\\\/a>\\u00a0is viewed by some on Wall Street as a big \\"risk-on\\" signal.<\\\/p><p><em>Subscribe <\\\/em><a href=\\"https:\\\/\\\/www.cnbc.com\\\/application\\\/pro\\\/\\"><em>to CNBC PRO<\\\/em><\\\/a><em> for exclusive insights and analysis, and live business day programming from around the world.<\\\/em><\\\/p><\\\/div><\\\/div>\\r\\n<br><a href=\\"https:\\\/\\\/www.cnbc.com\\\/2021\\\/02\\\/16\\\/the-only-reason-to-be-bearish-is-theres-no-reason-to-be-bearish-bank-of-america-says.html\\">Source link <\\\/a>"