Investor optimism is reaching new heights on Wall Street, according to Bank of America’s Sell Side Indicator (SSI), which rose 50 basis points to 56.7% in October.
The metric, a contrarian sentiment gauge that tracks sell-side strategists’ average recommended equity allocations, has now climbed to its highest level in over two and a half years, according to the bank. BofA reports that the SSI’s recent climb marks the largest 12-month increase since mid-2021, with equity sentiment rising 3.6 percentage points in the …
