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LONDON, June 30 (Reuters) - Investors have cut back their holdings in stocks to the lowest level in at least four years, Reuters polls showed on Monday -- a sharp reaction to the threats of rising inflation and slowing economies. Polls of 50 leading investment firms in the United States, continental Europe, Japan and Britain showed the average equity holding in a mixed portfolio of assets dropped to 56.9 percent in June from 59.5 percent in May. It was the lowest level since at least April 2004, when Reuters began combining the results of its four regional polls. Bond holdings rose to a slightly above average 32.9 percent from 31.2 percent in May. Cash levels rose to 5.5 percent from 5.4, well above the long-term average 4.6 percent holding. The moves come as central banks have issued increasingly stark warnings about inflation, with oil hitting nearly $143 a barrel on Friday, and developed economies have been slowing. "Inflationary pressures are intensifying, both at home and abroad," said David Joy, chief market strategist at RiverSource Investments in Minneapolis.
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