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Households' stock asset allocation says hedge funds should get more hedged

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Households' stock allocation hits record highs in Q1 according to Fed's financial accounts. Institutions and foreigners, while not at records, are also fairly fully invested. "Big four" households' assets climb $5 trillion to $116.6 trillion and see the "big two" assets versus GDP. Households' "free liquidity" is relatively low versus market value despite the government sending out record stimulus.

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