Investors gloomiest in a decade about world economy: BAML survey

LONDON (Reuters) – Investor confidence has deteriorated further with more fund managers expecting global growth to weaken over the next 12 months, the worst outlook in a decade, Bank of America (NYSE:) Merrill Lynch’s December investor survey showed on Tuesday.

A net 53 percent of investors surveyed, who manage $694 billion in assets, said they expect a slowdown, the gloomiest outlook for the world economy in a decade, it said.

The U.S. dollar replaced technology stocks known as FAANGs in the United States – Facebook (NASDAQ:), Apple (NASDAQ:), Amazon (NASDAQ:), Netflix (NASDAQ:) and Google (NASDAQ:) – and China’s BATs – Baidu, Alibaba (NYSE:) and Tencent – as the most crowded trade for the first time since January, it found.

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