Bank of America’s bull-and-bear indicator rose to 9.6 on July 23, marking its highest reading since December 2020 and the third-highest level seen over the past 24 years. The gauge points to extremely optimistic market sentiment. It tracks several inputs, including flows into stock and bond funds, equity positioning by hedge funds and fund managers, credit market conditions, and market breadth. According to the analysis cited in the report, the latest move higher was driven mainly by lower cash allocations among fund managers. That cash position fell 0.5 percentage point from the previous month to 3.6%, putting it close to the lowest level in 13 years. The reading suggests investors have become significantly more constructive in their market stance.
Bank of America’s bull-and-bear indicator climbed to 9.6 on July 23, its highest level since December 2020, according to BlockBeats.
The reading is now the third-highest recorded in the past 24 years, indicating extremely optimistic market sentiment.
The indicator tracks flows into stock and bond funds, equity positioning by hedge funds and fund managers, credit market conditions, and market breadth.
The analysis said the recent increase was driven mainly by fund managers’ cash allocations. That figure fell 0.5 percentage point month over month to 3.6%, close to the lowest level in 13 years.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
