Bank of America strategist says economic growth expectations jump up global stock markets may rise further

Michael Hartnett of Bank of America said that global stock markets may further rise, as the surge in economic growth expectations firmly puts the bulls in control. The bank's latest survey showed that a net 28% of global fund managers are overweight stocks, reaching the highest level in seven months. Hartnett stated that views on economic growth have shown the most significant improvement in nearly a year, with only a net 16% of investors expecting a downturn. In a report, the strategist wrote that with the reduction of risks from the "recessionary trade war," the bulls are prevailing. He added that stock market exposure has not reached extreme levels yet, and currently favors the continuation of the uptrend. As enthusiasm for artificial intelligence renews, driving up tech giants, and the impact of large-scale US tariffs has been smaller than expected, the MSCI Global Index reached a historic high. Investors are also betting on the Federal Reserve starting to cut interest rates timely to avoid an economic recession.