AssetTV features the brief, "Is Now the Time to Step Out of Cash?" The description says, "Chris Nicholson, VP of Product Management at PGIM Investments, provides an overview of the firm's investment strategies across the global markets. Nicolson considers the outlook for the Federal Reserve and the ideal timing for adding duration to bond portfolios." Nicholson comments on the video, "Over the last year or so, it's pretty interesting actually. Flows have reversed course from what would have long been considered trend in the industry. Cash and cash substitutes have really garnered a lot of the flows.... For instance, taxable money markets, both Prime and Govt MMFs, as well as ultra-short bond funds, have garnered over $325 billion in flows over the last 12 months.... Intermediate term bond fund strategies have only gathered $28 billion in flows." He adds, "Going into last year and up until the end of the year, Dec. '18, the Fed looked like they were going to continue along their tightening policy.... That's really changed; they reversed course considerably.... Going back in history, if you look at the last 4 hiking cycles … each time where they have paused, within the next 15 months the next move ... was a cut.... Interestingly, post the last hike ... what we've noticed is that long-term interest rates, as well as short-term rates, have both fallen.... As a result, both short-term bonds and intermediate-term bonds, have outperformed cash."

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