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Roundup of the BAML Fund......>

GLOBAL MARKET/OPINION
GLOBAL MARKET/OPINION: Roundup of the BAML Fund Manager Survey, as per Reuters:
- Investors most bullish on rates since 2008 as trade war concerns send
recession risk to 8-yr high
- Third of investors expect a global recession in the next 12 months, highest
since 2011
- Investors slash exposure to cyclicals to buy US Treasuries & US growth stocks
- Long US Treasuries most crowded trade for the third straight month
- Investors say US equities are the most preferred region over the next 12
months
- Record 50% of investors say corporates are "overleveraged" with 46% saying
they want corporates to use cash flow to improve balance sheets
- "Biggest tail risk" remains trade war for fifth straight month

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