(CNBC) Cash, one of the most hated corners of the market for years, is getting some newfound love from money managers as the Federal Reserve’s firm commitment to rate hikes roiled nearly every other asset class. Global money market funds saw $89 billion of inflows for the week ending Oct. 7, the largest weekly injection into cash since April 2020, according to data from Goldman Sachs’ trading desk. Meanwhile, mutual fund managers are also holding a record amount of cash, the data said.
Cash is king again as money managers are in no rush to embrace risk with Fed raising rates
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