Bank of America(US:BAC) Ge Long Hui A P P·2026-01-20 07:57Group 1 - The core sentiment among global fund managers has reached its highest level since July 2021, with optimism about economic growth surging and cash holdings dropping to a historical low of 3.2% [1] - The Bank of America bull-bear indicator has risen to an "ultra-bull" level of 9.4, indicating a strong bullish sentiment among investors [1] - A net 38% of respondents expect economic strength, while concerns about recession have fallen to their lowest point in two years, with the expectation of an economic "soft landing" becoming the baseline [1] Group 2 - Liquidity conditions are reported to be the best since 2021, with nearly half of the respondents indicating they have no hedging measures against a significant market downturn [1] - Geopolitical risks have surpassed the artificial intelligence bubble as the primary tail risk, while long positions in gold have become the most crowded trade [1]