Based on recent research by Bank of America, Investors' cash level reached 6.1% in May, the highest level in 20 years.

Market trend:

With the rate hikes, highest inflation in 40 years, and investors' worries about recession, the SPX dropped 18% since the beginning of 2022.

Institution's view：

BoA said: the worries about recession have surpassed that of inflation and Russia-Ukraine tension. As an inverse indicator, the extreme bearish sentiment can be regarded as a buy signal.

What do you think:

How much % cash do you hold in your portfolio? Bullish or bearish? Feel free to leave your comment.