Global Profit Upgrades Haven't Been This Good in 6 Years: Chart

Spurred by improving economic growth and bets for a pickup in inflation worldwide, analysts are turning bullish on global profits to a level that has boded well for equities in the past. Earnings upgrades in March outnumbered downgrades for the first time in six years, according to a Bank of America Merrill Lynch note. The occurrence has historically preceded an equity rally in the following 12 months, the strategists wrote.

— With assistance by Wendy Soong

    Before it's here, it's on the Bloomberg Terminal.