American companies are hoarding cash like crazy.
In the second quarter of 2017, twenty-four of the largest American companies are holding on to a whopping $1.01 trillion in cash reserves, up 1.63% from the first quarter, according to analysis of second quarter earnings reports by Bank of America
Of the $1.01 trillion, just over 80% is held stashes outside the United States, with a hefty majority held in the form of corporate and treasury bonds.