Bank of America
- Professional investors are the most bullish they've been on bonds since the depths of the Great Financial Crisis.
- An extended period of elevated interest rates has driven the bullishness in recent months.
- Rates need to fall going forward for the bullish bond trade to be profitable.
Our Chart of the Day is from Bank of America, which shows that investors are the most bullish on bonds since the depths of the Great Financial Crisis.
Professional investment fund managers surveyed by Bank of America said they are the most overweight bonds since early 2009. Only in March 2009 and December 2008 were they more overweight bonds than today.