People visit the Charging Bull Statue during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 25, 2020.Investors who amassed huge piles of cash amid the coronavirus-triggered market turmoil have started buying stocks again and the money still on the sidelines could give risk assets a further boost, according to Barclays.
"Mutual funds thus have ample dry powder to buy equities, given that their cash holdings, in USD terms, are still near record high," Emmanuel Cau, Barclays' head of European equity strategy, said in a note on Wednesday. "As long as the recovery in activity carries on, despite the persistent uncertainty and the elevated tail risks, rising flows could continue to provide support to equities.
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