A survey of UK investors last month found their holding more cash in their portfolios than at any time since the aftermath of Lehman Brothers’ collapse in 2008. The Reuters poll showed that cash accounted for 8.7 per cent of their holdings.
The same poll found European investors with a 6.8 per cent cash holding. At the end of last year, those positions were about 5 per cent...
Bankers speculate that the trend is less pronounced among US investors as corporate bond issuance has been higher there and investors are less worried than those in Europe about the impact of government austerity packages
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