Global investors stay 'uber-bullish' but warn companies are overinvesting

SelfRugger · 2026-04-11T15:22:32+00:00

Global investors remain highly optimistic but express concerns about overinvestment by companies. While macroeconomic optimism is rising, many believe firms should prioritize balance sheet strength over aggressive spending.

SelfRugger

2026-04-11 15:22:32

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Global investors stay ‘uber-bullish’ but warn companies are overinvesting

The skyline with the banking district is seen during sunset in Frankfurt, Germany, February 27, 2024. REUTERS/Kai Pfaffenbach · Reuters

Reuters

Tue, February 17, 2026 at 4:34 PM GMT+9 1 min read

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MILAN, Feb 17 - Global investors are increasingly worried that ‌companies are overinvesting, just as ‌market sentiment remains “uber‑bullish” and further asset gains look harder to achieve, Bank of America’s monthly fund manager survey showed on Tuesday.

The poll of 162 ‌managers overseeing $440 ⁠billion found cash balances rose to 3.4% from January’s ⁠record‑low 3.2%, while investors stayed heavily overweight commodities and equities and deeply underweight bonds.

Macro optimism improved further, ‌with expectations for a global “boom” at the highest since February 2022 and forecasts for earnings growth topping 10%, their strongest since 2021. ‌But a record share of respondents said companies are spending too aggressively, and ‌chief investment officers now favour strengthening balance sheets over increasing capital expenditure.

AI bubbles once again topped the ‌list of investors’ biggest tail risks.

(Reporting by Danilo Masoni; Editing by Amanda Cooper)

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