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Data: UBS Global Wealth Management; Chart: Axios Visuals

High net worth individuals and business owners globally say they're getting more optimistic about the economy, but are still holding a large percentage of their wealth in cash, data from a third quarter UBS Global Wealth Management survey shows.

By the numbers: The survey polled more than 4,600 wealthy investors and entrepreneurs in 18 countries.

  • Wealthy U.S. investors are putting more of their money into instruments like stocks and bonds while holding 21% of holdings in cash.
  • Globally, investors have 27% of holdings in cash, "much higher than the percentage typically recommended," UBS analysts note. Still, 34% say they are shifting more into cash.
  • 53% of respondents expressed optimism on the global economy and 61% on their own region’s economy.

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The state of play: Press Secretary Kayleigh McEnany told reporters on Air Force One that the event would take place in "a week or two" instead. The outdoor rally — which had encouraged the use of face masks — was scheduled after sparse attendance at Trump's indoor comeback to the campaign trail in Tulsa.

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Joe Biden yesterday laid out the broad strokes of his economic policy platform, which seemingly is designed to not freak out centrists and not piss off progressives.

Why it matters: Biden has a better-than-even shot of becoming the next president, which means his tax plans could become everyone's tax bills.