Global investors changed their expectations on the global economy in the wake of Donald Trump's election win, and now see higher growth than they did before, as well as higher inflation, according to Bank of America's monthly fund manager survey.

The post-election rally has led stock exposure to jump to its highest level since 2013 amid a "surge in bulls," BofA says.

With concerns over rising prices, including gasoline, housing and everyday goods, Trump’s proposed economic policies-such as tariffs and immigration reforms, could either stabilize or worsen inflation.