Investors are pouring money into the safest of asset classes – cash – at their fastest rate since the start of the COVID-19 pandemic as they reassess a once-optimistic outlook for the US sharemarket and the world’s biggest economy under the Trump administration.
A survey by Bank of America showed cash holdings for global fund managers jumped in March to 4.1 per cent from 3.5 per cent, which was the biggest move since 2020 as they slashed their exposure to US equities to the lowest level since June 2023 and started to pile into Europe.
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Sarah Jones is the markets editor at The Australian Financial Review. She is based in the Sydney newsroom. Connect with Sarah on Twitter. Email Sarah at sa.jones@afr.com
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
