US dollars.Reuters
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Investors are likely to dump cash for stocks and other assets next year, one strategist says.
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The Fed has signaled it will cut interest rates next year, likely weakening the US dollar.
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A weaker greenback promises to boost commodities and emerging markets, Ben Emons says.
Investors are likely to ditch cash next year as cuts to interest rates fuel their demand for other assets, one strategist says.
“We did put a lot of money into cash this year as those money market funds indicate,” Ben Emons, a senior portfolio manager at NewEdge Wealth, told Yahoo Finance this week. He suggested investor uncertainty, higher rates, and the belief that rates would remain high were behind the trend, but argued that fears of inflation, recession, and “higher for longer” rates have dissipated now.
“Putting it in the ‘trash’ and using it for different opportunities, I think that’s the story…
