Investors are starting to get very nervous about the market’s near-term direction, and it shows in their actions.
“Russia/Ukraine drives fund manager cash levels to highest since April 2020 (COVID), global growth optimism to lowest since Jul’08 (Lehman),” said Michael Hartnett, Bank of America chief investment strategist, in the latest survey of managers from the bank.
The details behind the report are ugly.
Hartnett notes growth expectations among fund managers is at a 14-year low. The…
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