Cash positions rise to highest level in 21 years: BofA fund managers survey
Yahoo Finance Live's Akiko Fujita breaks down the chart of the day.
Video transcript
AKIKO FUJITA: It is now time for our Chart of the Day. And today, we are looking at a whole lot of cash. Take a look at this chart from the latest B of A Global Fund Manager Survey, which shows that fund managers have taken their cash positions to the highest level in 21 years. This survey found the average cash level was 6.3% in October. That's up from 6.1% the prior month and well above the long-term average of 4.8%. All this, of course, coming on the back of the volatility we've seen in the equity space.