“Monetary Policy Impotence” : Investors haven’t been this pessimistic since the global financial crisis of 2008.

 

The normalization of interest rates doesn’t look like it’s happening anytime soon. The trade war rumbles across the Pacific.

(From Yahoo)

That’s according to a Bank of America Merrill Lynch survey of money managers with $528 billion between them. Equity allocations saw the second-biggest drop on record, while cash holdings jumped by the most since the 2011 debt-ceiling crisis, the June poll showed.

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