What is the smartest money on Wall Street doing? Bank of America just revealed the answer.



According to Bank of America's latest survey of 181 global hedge fund managers in March, here are three key findings:

1Cash is King: Average cash holdings among fund managers surged significantly to 4.3%, marking the largest monthly increase since the pandemic crash in March 2020, indicating a shift in market sentiment from bull market euphoria to cautious defense.

2Betting on Commodities: Long positions in commodities climbed to the highest level since April 2022, reflecting hedging demand against inflation and geopolitical risks.

3Emerging Markets in Favor: Emerging market equity allocation reached a new high since February 2021, as institutional capital begins seeking investment targets with more attractive valuations.

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