Global Profit Upgrades Haven't Been This Good in 6 Years: Chart

Global Profit Upgrades Haven't Been This Good in 6 Years: Chart
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(Bloomberg) -- Spurred by improving economic growth and bets for a pickup in inflation worldwide, analysts are turning bullish on global profits to a level that has boded well for equities in the past. Earnings upgrades in March outnumbered downgrades for the first time in six years, according to a Bank of America Merrill Lynch note. The occurrence has historically preceded an equity rally in the following 12 months, the strategists wrote.

--With assistance from Wendy Soong

To contact the reporters on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net, Blaise Robinson in Paris at brobinson58@bloomberg.net.

To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, Kasper Viita, Sheldon Reback

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