Wall Street’s phrase of the week is “cash is trash.” With the Federal Reserve trying to resuscitate the economy by keeping interest rates painfully low, and now buying $300 billion, or 5%, of the outstanding Treasuries, it’s increasingly difficult to make a buck on a buck.

Yet, a record amount of cash is sitting on the sidelines of the equity market. According to Credit Suisse, sideline cash totals $14 trillion - a record amount. The figure is based on money market funds, bank savings deposits, and treasury debt held by the public. The U.S. equity market capitalization totals just under $9 trillion.

Sooner or later the need for some return on capital will prompt some investors to buy equities. When it happens, the impact on stock prices could be huge.

– Barron’s options editor Steven Sears