Selling frenzy persists
"We are not used to seeing stocks implode and Treasuries sell off," said Josh Stiles, senior bond strategist at IDEAglobal. "People are saying they don't even want to be in Treasuries now, they need the cash."
So now the investors are prepared to take a huge hit on their savings and are selling everything - even though the markets have fallen by 29% in the last 12 months.This week alone the FTSE100 fell by 21%. The same is happening in markets across the globe.
Better cash today than nothing tomorrow.