Reuters
Investors rush to cash as growth optimism hits record low – BofA
Investors are becoming increasingly concerned about global growth with optimism at an all-time low, as they increase their cash holdings to the highest level in two decades, according to BoFA Securities’ monthly fund manager survey. The investors, who manage just under $1 trillion in assets, are now the most underweight equities since May 2020 at net 13% underweight, from 6% overweight in the April survey. Growth expectations remain weak, BofA said, with optimism about the economic outlook falling to a record low in its survey history, the U.S. investment bank said.
