For the past few sessions there has been a lot of talk about year-end demand for stocks and interest to sell bonds and cash-equivalents as equity managers try to look as though they are earning their management fees, By being nearly fully invested at year-end, it looks like they’re at least trying...
The thinking is that the massive amounts of cash on the sidelines will at least partially flow into stocks for the balance of the week. They may flow right back out next week if managers remain fearful…
