A historically high 52% of respondents said they are underweight equities, while 62% are overweight cash, according to the bank’s global fund manager survey, which included 212 participants with $616 billion under management in the week through Sept. 8.
Oil slips again as US, Iran sign peace deal
Oil prices dropped as the U.S. and Iran reached an interim agreement to end the war, reopen the Strait of Hormuz, and lift sanctions on