September 13, 2016
ONE ECONOMY TO RULE THEM ALL:
BlackRock sees $70 trillion in cash on sidelines that could boost stocks (Trevor Hunnicutt, 9/13/16, Reuters)
Stocks globally could continue to rise as interest rates remain low as investors who have stockpiled some $70 trillion in cash seek higher returns from the market, BlackRock Inc (BLK.N) president Rob Kapito said on Tuesday."People are tired of earning zero," Kapito said at the Barclays Global Financial Services Conference in New York, referencing slim returns on short-term savings and in bond markets."There's more cash in the system than ever before."Kapito said some $10 trillion of the cash is effectively earning a negative yield, eroding savings, but that investors have found fewer opportunities to deploy money in the markets.
Posted by Orrin Judd at September 13, 2016 1:54 PM