Optimism on U.S. Wanes as Growth Outlook Drops, Merrill Says
Bloomberg – Investors were the most bearish on U.S. stocks in at least four years as money manager scaled back their outlook for global growth and raised their cash holdings, a BofA Merrill Lynch Global Research survey showed.
A net 14 percent of respondents, who together manage about $530 billion, said the U.S. was the region they would most like to have under-represented in their investments, a level not since November 2006. Last month, the same amount said America was the region on which they would most like to have an overweight stance.
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