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Fund Managers Remain Upbeat Amid Soaring Market

(Barron’s) There’s plenty of talk that the U.S. stock market – which saw the Dow Jones industrial average Tuesday breach 26,000 for the first time – is a bubble about to pop, but fund managers remain optimistic. In fact, they think a market top won’t arrive for at least another year, CNBC.com reports, citing the latest Bank of America Merrill Lynch Fund Manager Survey. The consensus is that the market won’t hit a peak until sometime in 2019. Fund managers have trimmed their cash allocations to the lowest level in five years and are at a two-year high in allocation to stocks, the survey reveals.

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