Cash Coming Off Sidelines Spurs Hope Bull Run in Stocks Has Legs
- Money-market funds post first outflows since mid-April: ICI
- Fund managers cut cash holdings to lowest level in over a year
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Confidence in this year’s US stock-market rebound continues to build, with money-market funds notching their first outflows in almost two months, while cash kept on the sidelines by institutional investors has dropped to the lowest point in over a year.
For contrarian traders betting against equity bears, that massive cash pile could keep the bull-market rally chugging along.