Wall Street Rush to Safety Is Biggest Since Lehman Brothers Collapse
- Investors suffer ‘bearish paralysis,’ BofAML strategists say
- Contrarian view suggests S&P 500 should extend bull run
Oct. 10: UBS's Pande Says UBS Has Taken a 'Somewhat Defensive Stance' on Current Trading
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Investors haven’t been this bearish since the collapse of Lehman Brothers. At least that’s what their positioning is signaling, according to Bank of America Merrill Lynch strategists.
Over the past six months, money market funds attracted $322 billion of inflows, the largest flight to safe assets since the second half of 2008. In similar fashion to 2007 and 2008, investors raised their cash holdings despite falling interest rates.