Fund Managers Add Tail Risk Hedges At Fastest Pace In 14 Months

As stocks advance to new record highs amid an ongoing, two-day sigh of relief tied to the fact that the world didn't end over the weekend, it's worth noting that there are signs of investor caution despite what the benchmarks are screaming at you. Take a look at BofAML's latest fund manager survey, for instance. According to the September 1 poll, there was a 9 percentage point rise in the share of money managers buying hedges on their equity books from last month: That's the biggest jump in