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Investors not convinced that stock market rally will last: BoA survey

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Investors aren't convinced that the stock market rally can last, Bank of America survey shows

While the stock market continues a relentless march higher as inflation continues to cool, investors still aren't sure the broad rally will last, according to Bank of America's Global Fund Manager survey on Tuesday.

Still, roughly 66% of investors say the recent upswing in equities is the result of a bear market rally, per the report, which surveyed investors between February 2 - 9. BofA strategist Michael Hartnett indicated the biggest tail risk to the economy is persistent high inflation, which would most likely cause the Fed to raise rates at a more aggressive pace. On Tuesday, US consumer price data showed inflation slowed further but came in above forecasts.

 

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