Recent updates in financial markets indicate a significant bullish sentiment among investors, with the latest Investor's Intelligence survey revealing a rise in bullish outlooks to 60.9 from 59.4, and a decrease in bearish perspectives to 14.5, marking the lowest since March 2018. This has resulted in a notable 46.4 point spread between bullish and bearish views, considered extreme by market analysts. Additionally, US high yield credit spreads have tightened to 3.20%, the lowest since January 2022, reflecting increased investor confidence. This sentiment is further supported by the contraction of IG/HY risk spreads, with high yield spreads nearing levels associated with a '2-handle', and a rally in the riskiest notes leading the shrinkage in spreads on US high-yield bonds to the tightest since January 2022. The credit markets are now in a 'risk-on' phase, with bond spreads at their tightest since May 2022. Furthermore, the equity market is described as being in a 'greed zone' with high beta stock crowding, indicating a strong bullish bias that has been the most stretched since July 2023, according to Goldman.