According to the monthly fund manager survey by Bank of America, after Donald Trump's victory, global investors have changed their expectations for the global economy, now expecting faster economic growth and higher inflation than before.

As a result, investors have increased their allocation to US stocks and US small-cap stocks, which are more focused on the domestic market, therefore may benefit particularly from the strengthening of the US economy.

Bank of America surveyed 179 respondents managing $503 billion in assets. Among them, 22% responded after the US election.

Among the respondents surveyed after the results were announced, 23% stated that they expect the global economy to strengthen in the next 12 months, marking the most optimistic since August 2021.

This is in contrast to the October survey results, where more respondents believed the economy would weaken in the next 12 months.

At the same time, there has been a change in inflation expectations, with 10% of respondents expecting inflation to rise in the next 12 months after the election, marking the highest level since July 2021.

In comparison, in October, 44% of respondents surveyed expected global CPI to decrease in the next 12 months. Throughout November, this proportion decreased to 16%.

Investors have increased their allocation to US stocks. The survey shows that 29% of investors increased their shareholding in US stocks, the highest level since August 2013.