Wall Street Finds New Value in Cash as Global Fears Weigh on Markets

“Worries about the war in Ukraine, China’s Covid-19 outbreak, a U.S. or European recession, and surging global inflation are making a long-spurned asset increasingly popular with Wall Street’s top money managers these days: cash.” Chief Market Strategist & Principal Richard Steinberg tells the WSJ that he “has increased holdings of cash and is looking to put more money in short-dated U.S. Treasury bonds if the Fed continues its expected path of raising interest rates to at least 2% by year-end.” Read More