NewsBite

Cash is back as global fund managers await Federal Reserve

Global fund managers turned defensive in their positioning this past month, according to Bank of America’s December survey, opting to wait-and-see what US policymakers decide to do in their final meeting this year.

The bottom line is that concern about hawkish central banks has sparked a surge in cash to 5.1 per cent of holdings this month from 4.4 per cent in November, a move that Bank of America calls a “contrarian buy signal”. Its the highest cash holding since May 2020.

Loading...
Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com

Read More

Latest In Equity markets

Fetching latest articles

Most Viewed In Markets

    Original URL: https://www.afr.com/markets/equity-markets/cash-is-back-as-global-fund-managers-await-federal-reserve-20211215-p59hlr