Jun
04
Sea of Red for European Stocks Means Investors Are Stashing Cash
ByInvestors running away from the European stock selloff are hiding in an asset class that yields them nothing.
As the Stoxx Europe 600 Index heads for its first back-to-back weekly losses since the beginning of the year and bond volatility surges, traders are opting to take their profits and wait it out. Cash allocation jumped to a seven-month high, according to a Bank of America Corp. survey.
The most loved among investors only a few weeks ago, European stocks are now being shunned by those who are still waiting to see tangible signs that the region’s central-bank stimulus will lead to earnings growth. Dirk Thiels at KBC Asset Management went underweight equities last week…
Sea of Red for European Stocks Means Investors Are Stashing Cash
