Investors, plagued by mounting pessimism, have sought refuge in cash, according to a recent survey conducted by Bank of America. The survey highlights a notable 5.6% increase in cash reserves during May, as apprehensive investors brace themselves for a potential credit crunch and a recession.
Flight to Safety: Investors Increase Cash Reserves and Brace for Recession
Investors are increasingly gravitating towards cash reserves, as indicated by a recent survey conducted by BOFA, which characterizes this movement as a “flight to safety” in the realm of financial transactions. Notably, stock exposure has attained its peak so far in 2023, while BOFA further highlights that bond allocations have reached their highest level since 2009.
Between May 5-11, BOFA’s researchers conducted the survey by engaging with over 250 global fund managers overseeing over $650 billion in assets. According to the BOFA poll, sentiment is souring and taking a bearish turn, with concerns looming over a possi
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