Bank of America's Global Research issued a contrarian "sell" signal for risk assets on December 19, with its Bull & Bear Indicator rising to 8.5. This comes as their analysts forecast a "Run it Hot" economic scenario for 2026, projecting 2.4% GDP growth fueled by fiscal stimulus. While anticipating 9% global EPS growth, Chief Investment Strategist Michael Hartnett cautions about limited upside due to rising U.S. unemployment and "bond vigilantes" slowing AI capital expenditure. BAC shares are trading near record highs, supported by new profitability targets and stable dividends.