BofA Survey: Investor Bullishness Hits Third-Highest Level Since 2022

Bank of America's August 2026 Global Fund Manager Survey shows investor sentiment reached its third most bullish reading since 2022, extending two straight months of accelerating risk appetite. The July survey had already pushed cash allocations to an "uber-low" 3.6%, down from 4.1% in June. Sentiment this elevated has, in past cycles, coincided with near-term equity drawdowns.