NEW YORK--(BUSINESS WIRE)--Global investors have moved out of equities into cash ahead of an expected U.S. Fed rate hike, according to June’s BofA Merrill Lynch Fund Manager Survey (FMS). Investors have also shown concern about a Greek default and a possible bubble in Chinese equities as they have scaled back risk. Cash levels rise to 4.9 percent of portfolios, up from 4.5 percent in May; the proportion of investors overweight equities falls to net 38 percent from 47 percent. Expectations of hi
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