BoA'​s McManus Says Stock Fund Cash Levels at Record Lows. CNN Money'​s FUNDWATCH writes, "​For Fund Managers In Rising Stock Market, Cash Is Trash", quoting Bank of America (​BAC) strategist Thomas McManus, "Cash levels are plunging to what might be their lowest levels of all time". Cash levels in stock funds were a razor thin 3.​7% in April and a record low 3.​6% in March (​March was revised down to set the record), according to ICI figures.

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