Investors Turn Negative on Banks, Insurers as Rates Climb, Merrill Says

(Bloomberg) -- Investors this month turned the most
bearish on bank and insurance stocks in more than a year as
expectations for higher interest rates reached an 11-month high,
a Merrill Lynch & Co. survey showed.

Money managers' preference for energy and industrial stocks
jumped as optimism for global economic growth touched the
highest since December 2005, according to 201 respondents who
together manage $689 billion.


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