MarketPR

Bank of America Bull & Bear indicator hits 9.7, highest since 2021, as optimism extreme draws rotation warning

8/7/2026

The Bull & Bear indicator, Bank of America's (BAC) sentiment gauge, hit 9.7, its most extreme reading since 2021.

Strong stock market performance, credit inflows, and tighter spreads drove the move, arriving as global equities reached record highs.

jobs report is the next definitive test for a setup that has, by this measure, left little room for error.

What the 9.7 print reflects Three inputs moved the gauge to its current level: stock market performance, credit inflows, and spread compression.