Money managers now the most bullish they’ve been in two years

News Snapshot:

Bullish sentiment among fund managers is at the highest level since January 2022, according to the latest BofA survey. That could spell some trouble for stocks ahead. The February Global Fund Manager survey of 249 panelists with $656B in assets under management showed BofA's broadest measure of sentiment (based on cash levels, equity allocation and growth expectations) rose to 4.1 from 2.9. Investor positioning is "increasingly a headwind for risk assets," strategist Michael Hartnett wrote. In addition, for the time since April 2022 money managers are not predicting a recession, with 2/3 going for a soft landing, 1/5 saying no...