Investors are piling into stocks in a way to a degree not seen for more than a decade. Bank of America's global fund manager survey showed the percentage of portfolio managers who are overweight U.S. stocks soared to 29% — its highest level since August 2013 — from 10% before the U.S. presidential election. Stocks have ripped to record highs since Donald Trump secured a second term. In that time, the S & P 500 is up 3.
IXIC,IWM YTD mountain SPX, Nasdaq, Dow and IWM year to date BofA's chief investment startegist Michael Hartnett noted this trend is likely to continue. "Post-election results show net 35% expect small caps to outperform large caps, which would have been the most since Feb'21," he said. To be sure, Trump's economic agenda — which includes imposing a host of tariffs on imported goods — could yet drive inflation higher.
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