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 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, Apple, Amazon, Netflix and Google - and China's BATs - Baidu, Alibaba and Tencent - as the most crowded trade for the first time since January, it found.

 

(Reporting by Josephine Mason, Editing by Helen Reid)