Bank of America(US:BAC) Ge Long Hui A P P·2025-11-24 02:44Group 1 - The core viewpoint of the article indicates a rebound in risk appetite among institutional investors, with cash positions dropping to a 13-year low of 3.7% [1] - Historically, cash positions below 3.7% have occurred only 20 times since 2002, typically leading to stock market declines and stronger performance in government bonds within 1 to 3 months, signaling a "sell" [1] - There is a notable increase in stock allocations, with global equity overweight rising to a net 34%, the highest since February 2025 [1] Group 2 - Commodity overweight has also increased to a net 17%, marking the highest level since September 2022, indicating it as a core asset favored by institutions [1] - A significant shift in global institutional investor sentiment is observed, with 53% of fund managers believing in a smooth "soft landing" for the global economy, the highest proportion since January 2025 [1] - The global economic growth forecast has turned positive for the first time since December 2024, aligning overall expectations with stock market performance [1]