Traders work at the New York Stock Exchange, Wednesday, Dec. 27, 2017. (AP Photo/Mark Lennihan)
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Credit investors polled by Bank of America Merrill Lynch for a survey published in December named a bubble as the biggest risk to the asset class, followed by higher inflation and rising yields.Investors pulled money out of exchange-traded funds that track corporate credit for the first time in 14 months in December, data compiled by Bloomberg show.That's helping to lift global economies, spurring optimism across markets.Mind the ElectionsRising global growth, the Fed's cautious approach to monetary tightening and a weaker dollar helped emerging-market currencies and stocks post their biggest returns in eight years in 2017 .Fed Fresh FacesJerome Powell won't be the only new kid in class at the U.S. central bank next year. The "Big Three" (chair, vice chair and New York Fed president) will be completely different after Janet Yellen's stint in charge ends in February and the head of the New York Fed retires in the middle of the year.
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