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)
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