More Wall Street stalwarts now see a sharp economic recovery

An expanding roster of heavyweight investors are betting that the economic recovery taking shape in the U.S. will be much stronger than is widely believed. The growing bullishness among major investors follows a wave of optimistic economic data that suggests prior views of muted recovery might be far too gloomy.

On Thursday, investment bank Societe General said that the U.S. economy is poised for a solid rebound after falling of a cliff last winter. Societe General's argument for a "classic" recovery -- one that tends to be as sharp as the drop is steep -- challenges the widely held assumption espoused by bond giant PIMCO, among others, that investors should brace for a "new normal" era of limping growth.