Global Fund Managers Stockpile Cash

While Euphoria in the stock market soars global funds are more skeptical and are hoarding cash, according to a report from Barclays Research At the end of June, Wall Street celebrated as the Federal Reserve approved capital plans for all 34 firms taking part in its annual stress tests, the first universal approvals since the tests began in 2011. In many ways analysts have interpreted these approvals as a turning point for financial firms, marking the end point for nearly a decade of turmoil following the financial crisis. And banks celebrated by immediately issuing capital return plans, the size and…