Markets mostly rose on Tuesday.
The S&P 500 rose 0.6 percent, the Nikkei 225 surged 2.2 percent and the STOXX Europe 600 was unchanged.
There are lingering concerns over the situation in Turkey, particularly over the possibility of contagion, with Robert Pavlik, chief investment strategist at SlateStone Wealth LLC, saying that “I wouldn’t be rushing into things because it has to play out”.
In the meantime, the US stock market appears to act as a safe haven, forming the biggest portfolio weight since January 2015, according to the August Bank of America Merrill Lynch Fund Managers Survey.
Still, cash rose to 5 percent of portfolios, up from 4.7 percent in the previous month and higher than the 10-year average of 4.5 percent, with the trade war considered to be the biggest tail risk.
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