Investor sentiment is currently at its most bullish level since January 2022, according to Bank of America's February Global Fund Manager Survey. Yahoo Finance Markets Reporter Josh Schafer highlights how true this figure is and what factors could be contributing to this trend, including Big Tech investments.

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Editor's note: This article was written by Luke Carberry Mogan.

Video Transcript

RACHELLE AKUFFO: Bank of America's February Global Fund Manager Survey is out, and the results are pointing to more bullish investor sentiment ahead. Yahoo Finance's Josh Schafer joins us at the desk with some of the takeaways. Where are we seeing the tide turning here?

JOSH SCHAFER: Yeah, Rachelle. I mean, broadly, we're seeing the tide turning right as you hinted at their. Overall investors more bullish here, the most bullish they've been in about two years. But it's interesting when you take a look at the overall investment sentiment chart from Bank of America.

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Investors are the most bullish they've been in two years, but when you look at that broad span we see there, they aren't nearly as bullish as other periods where the market may have really gotten ahead of itself, which I think is sort of an interesting perspective thing. It's another form of sentiment-- we talk a lot about this with consumer sentiment-- that hasn't really come all the way back since the pandemic, and people have just been so negative that yes, we're seeing more bullish here, but when in comparison, it isn't quite actually that bullish.

I want to dig into a couple of the things here, guys, of why people are so bullish, right? One of those things is that recession call. We know a lot of Wall Street banks have been pulling their recession calls over the last couple of months. Deutsche Bank was the latest one to do it last week.

And then you take a look here, for the first time since April 2022, we have investors saying that they don't expect a global recession. Interesting to highlight the word "global" there because we know the US economy, a lot of people feel like, is doing well. That is not necessarily the case of how people have felt broadly about, say, Europe or something like that. So I found that to be interesting. And a few other things to hit on here, guys, cash allocation finally coming down.

BRAD SMITH: So, is it clear as well where there's perhaps more of an outsized sentiment for even this bullish tenor that's prevailing right now within the markets?