This explains why the US dollar goes against the data.
Crash in bond markets, Fed mistake are investors’ biggest fears right now, survey finds
Investors are more comfortable holding on to cash than investing in traditional assets as they consider a crash in global bond markets and a policy mistake by central banks to be the biggest tail risks to the market, according to a survey. The Bank of America Merrill Lynch July Fund Manager Survey that polled 207 asset managers with $586 billion under management, showed that while the average cash balance has dipped to 4.9 percent from 5 percent last month, the 10-year average remains above 4.5 percent. "Risk appetite remains equivocal with global cash balances still high at 4.9 percent despite clear inflection point ... (full story)