Bank of America is out with its fund manager survey and this chart stands out. It highlights how cash levels are at worrisome levels.
“Cash levels of 3.7% or lower has occurred 20 times since 2002, & on every occasion stocks fell and Treasuries outperformed in the following 1-3 months,” Bank of America writes.
The market is really having some second thoughts on AI at the moment
Bank of American warns on dangerously low cash levels