It's not often a Wall Street expert advocates ripping funds out of stocks and bonds to keep wealth in cash instead—all in the name of safety. But predicting intense market volatility to come, that's exactly what Mohammed El-Erian is doing.
El-Erian is the chief economic advisor at Allianz, the parent company of Pimco, and said recent central bank boosts to interest rates mean cash and cash-like assets are producing strong yields—and stocks and bonds are struggling.
