Maybe It’s Time to Start Worrying About Euphoria in U.S. Stocks
- BofA, RBC surveys show growing bullishness across investors
- Equity ETFs once again see larger inflows than bond funds
Photographer: Michael Nagle/Bloomberg
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Mom and pop are rushing back to risk. The ultra-rich want in. Positioning in bellwether mutual funds has virtually never been so bullish. This as the S&P 500 has surged 11% in less than three months.
Word is getting around about stocks, music to the ears of anyone who sells or manages them. But if you’re the type of market contrarian who thinks a better backdrop for gains is gloom, all the elation is worrying.