​ Treasury Strategies Says Record Corporate Cash Turning Conservative. The "investment portfolios of large U.​S. corporations took a sharp turn for the conservative as a result of recent turmoil in financial markets," says Treasury Strategies in a recent survey. A press release issued yesterday said over half of treasurers "reported implementing more cautious investment policies in the few months" and actions include "eliminating asset backed commercial paper, eliminating money fund investments that include asset backed obligations, shortening investment maturities, and investing in higher quality instruments, including government securities, AAA rated money market mutual funds and A1-​P1 commercial paper." Corporate cash and short-​term investments "recently increased modestly to a record $​5.​5 trillion" said the treasury consulting firm. Results of Treasury Strategies' full annual Corporate Liquidity Survey should be available in November.

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