El-Erian’s Cash-Stash Strategy Catches on as Bond Rout Deepens
- Mirae Asset says it’s building cash position before election
- Treasuries remain lower as report shows U.S. GDP accelerates
Sharma: Bond Selloff a Market Trend Against More Stimulus
This article is for subscribers only.
Mohamed El-Erian said he’s favoring cash when managing his own money. The idea is catching on in the bond market as benchmark 10-year U.S. yields rise to the highest level since May.
Mirae Asset Global Investments Co. said it’s building its cash position in one of its Asia bond funds during the U.S. presidential campaign. Fukoku Mutual Life Insurance Co. says it hasn’t been able to find value in the biggest bond markets. A survey of investors by Bank of America Corp. showed cash holdings match the highest levels since the terror attack on the U.S. on Sept. 11, 2001.