Investors Switch to Cash From Stocks and Bonds Like It’s 2022

Investors avoiding risks from the Iran war are selling stocks and bonds and rebuilding cash allocations, in an echo of strategies followed after Russia invaded Ukraine in 2022.

Holdings of cash at fund managers has jumped by the most in six years, Bank of America Corp.’s latest survey of these investors showed this month. Meanwhile, strategists at JPMorgan & Chase & Co. said this week that shifts in positioning in response to the conflict may have much further to run.