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Banks overtake tech stocks as top overweight sector: BAML poll

July 18, 2017 By Claire Milhench LONDON (Reuters) – Banks overtook tech stocks as the most overweight global sector in July, according to a copy of Bank of America Merrill Lynch’s fund manager poll seen by Reuters, with ‘long Nasdaq’ deemed the most crowded trade for the third straight month. The survey, which polled 207 asset managers with $586 billion under management, was carried out between July 7 and 13, and showed investors rotating out of technology stocks, which 68 percent of poll participants said were “expensive”. Since the 2009…

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U.S. stocks suffered $8.9 billion outflow as Trump storm built

May 19, 2017 By Karin Strohecker LONDON (Reuters) – Investors ditched almost $9 billion of U.S. equities as political turmoil in Washington built up in the past week, Bank of America Merrill Lynch figures showed on Friday. Funds invested in U.S. equities saw outflows of $8.9 billion in the week to Wednesday – their third straight week of outflows — while those dedicated to European stocks added $1.1 billion, the largest in 39 weeks and the ninth straight week of inflows. “D.C. disruption: new risk … Washington political malaise causes…

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