News Snapshot:
The perennial Wall Street question is: What’s next? The answer might be: Nothing good. Asset managers are getting skittish, what with the ongoing pandemic, higher inflation, US-China tensions, and supply chain problems, according to Bank of America’s Global Fund Managers Survey , a widely watched monthly Wall Street barometer. The managers’ cash levels leaped to a 12-month high for the first time since April 2020, when the pandemic was getting underway. Such stockpiling is always a sign of getting ready for bad times. Cash lately rose to 4.7% of allocations, from 4.3%, the survey said. Another pessimistic indicator was the...
