BAML Survey: Fund Managers Flock Back To U.S. Stocks

Investing.com - U.S. stocks are back on top for the first time in 15 months in the latest Bank of America Merrill Lynch (NYSE:BAC) Fund Managers Survey.About two out of three managers said U.S. stocks were their top pick in June, thanks to what is seen as the most favorable profits outlook.At the same time, investors reduced their holdings in Europe and emerging markets. Fund managers also flocked to commodities in June, partly reflecting the 2018 surge in oil prices.The most popular sectors were once again tech, financials and energy, with consumer staples, utilities and telecoms out of favor.The BAML survey found that trade issues remain the major worry of investors, but a growing number also expressed concern about rising corporate debt.