Merrill: Managers Expect Stock Peak in ‘2019 or Beyond’

Global investors raised their allocation to equities to net 55% overweight in January, a two-year high, according to the latest Bank of America Merrill Lynch fund manager survey. Allocation to bonds fell to a four-year low of net 67% underweight. Investors in January were the most overweight equities relative to government bonds since August 2014, Merrill…