Investors’ Cash Dips, but Not Enough to Trigger ‘Sell’ Signal: Merrill

Investors’ average cash balance fell to 4.7% in October, the lowest level in 30 months and well below the high of 5.8% a year ago, according to the latest Bank of America Merrill Lynch fund manager survey. “Cash balances dipped this month but remain somewhat elevated,” Michael Hartnett, Merrill’s chief investment strategist, said in a statement.…