BlockBeats report: On February 17, a monthly fund manager survey released by Bank of America on Tuesday showed that market sentiment remains "extremely optimistic," but further asset price gains appear increasingly difficult, as global investors grow more concerned about corporate overinvestment.
According to a survey of 162 portfolio managers overseeing $440 billion in assets, cash balances rose from a record low of 3.2% in January to 3.4%, while investors remain significantly overweight in commodities and equities and underweight in bonds. Macroeconomic optimism further improved, with the proportion expecting global economic "prosperity" reaching its highest level since February 2022, and the proportion anticipating profit growth exceeding 10% being the strongest since 2021.
However, a record proportion of respondents indicated that corporate spending has been too aggressive, and chief investment officers are now more inclined to strengthen balance sheets rather than increase capital expenditures. The AI bubble has once again become investors' most关注的 tail risk.