Cash Is the Only Winner in a Market Gripped by Stagflation Fear
- ‘We’re holding our cash with both hands:’ BlackRock’s Rieder
- Investors are pouring cash into ETFs tracking Treasury bills
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Investors are eschewing almost everything except cash in this selloff.
The Bloomberg Dollar Spot Index has trumped all other assets this month, notching a 0.6% advance at a time when stocks and bonds are tumbling. Investors have poured cash into an exchange-traded fund tracking Treasury bills for five weeks, clocking up the biggest inflows since 2020.