By Ateev Bhandari

(Reuters) -Cash allocations by U.S. corporations have halved since 2021 as elevated interest rates prompt a shift to higher-yielding treasury bills, data from Clearwater Analytics showed on Tuesday.

Median allocations to cash – which includes hard currency, money market funds and 90-day treasury bills – dropped to 20% at the end of July from 40% in 2021, according to a report encompassing around 800 of the investment management software maker’s U.S. corporate clients with a combined $1.3 trillion in assets.

This marks the lowest level in Clearwater’s system in at least eight years.

Excluding very short-term treasury bills, median allocations to U.S. treasuries surged from 3% to 20% over the same period.

Chief financial officers are trying to secure higher yields befo

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