Bank of America’s December global fund manager survey revealed the most bullish investor sentiment recorded in four-and-a-half years. Money managers are entering 2026 with strong confidence in economic growth, equities, and commodities.
This optimism is reflected in record-low cash levels. Furthermore, the survey shows the highest combined exposure to stocks and commodities since February 2022.
A significant majority of participants anticipate a soft economic landing, totaling 57%. Only 3% of those surveyed predict a hard landing scenario.
While the potential artificial intelligence bubble remains a key perceived risk, overall confidence in a resilient economy is high. The survey canvassed 203 participants managing $569 billion in assets between December 5 and December 11.