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Fund managers just made their biggest shift ever into U.S. stocks — and out of emerging markets

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Global fund managers have just made their biggest shift ever into U.S. stocks and out of emerging market equities, according to Bank of America's monthly...

Global fund managers have just made their biggest shift ever into U.S. stocks and out of emerging market equities, according to Bank of America’s long-running monthly survey released Tuesday.

The S&P 500 SPX has gained 17% this year, while the iShares MSCI Emerging Markets ETF has increased just 3%. That said, the fund managers seem to be self-aware that the bet against China is a crowded one — short China equities was the second-most crowded trade, behind only long big tech.

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