The boxes of dollar assets begin to begin a longer term and notify investors

In order to reduce the cost of longer term movements by the European invigorating markets of Europe’s revitalization markets and other major institutional money managers of Europe signed the beginning to reduce investment investments to reduce the values ​​of other large institutional money managers.

Wall Street Banks, trillions see the signs of investors managed by assets, US positions, incorrect policy, President Donald Trump’s views on the federal reserve chairs and trade war.

Although the US shares almost reduced the losses, Trump’s so-called day “Tariff advertisements are behind the global markets and remain behind global peers. The dollar points to some investors this year”capital flight“From the United States to other assets such as the German government debt.

“It happens. It will be slow, but inevitable,” said Luca Paolini, the head strategist at Pictet Asset Management. The European economic growth of European economic growth and catalysts in the “most logic” in Europe’s “Most Logic” Europe has made a mixture of the European “Most Logical”.

A Bank of America’s survey showed that Investors cut the “greatest ever” In March, the world’s shareholder allocations, the world’s largest economy and Europe since 1999.

The use of the European apartment apartments to the US debt and shares – analysts reached 2.5 billion euros in April, according to Morningstar, reached the highest level since 2023. Although the same Capital ETFs attract a little money in the fixed income equivalents, they saw more in May.

Sales of dollar assets turns a long-term trend in the presence of strong net streams of US assets, “said Kenneth Lamont, Director in Morningstar. This coup is governed by the “patriotic” turn to the internal sectors, such as defense between European investors.

In the global capital, the euro, at the same time, in recent weeks, in recent weeks, the German government bonds also suggested that investors are offered to seek non-dollar assets. Investment banks, US dollars and euros were purchased by institutional investors.

Head of the Global G10 FX Strategy in the Bank of America Thanos Vamvakidis, the Bank’s “Real money (institutional) dollars only sold in recent weeks, he said. The global head of the FX Research Research in Deutsche Bank George Saravelos, “Real money investors in the last three months, he said,” he said.

The Finnish Veritas Pension Insurance Company was exposed to US capital in the first quarter. Chief Investment Officer Laura Wickström, also said that the assessments of the shares of the United States are high, as well as “communication around” and “communication around the tariffs” to make such competitions and unpredictability. “

John Pearce, an Australian retirement scheme of $ 149 billion, about it podcasting Last month, his Foundation will be a very large exposure to the US assets and “doubt that obligation”.

“Frankly, I think we see the highest investment in US assets,” he said.

Danish pension funds heady In the first quarter in the first quarter since 2022, the largest purchase of the largest purchases of the European list since 2018.

The Global Head of Global Macro Strategy in BNP Paribas would be equal to selling 300 billion euros in European pension funds and dollar assets.

The United States has been a large currency that has been economic growth and liquidity and liquidity and strong performance of economic growths and markets.

“If the capital globalization is reverse, the question is so and fast,” said John Butler, the rates in the guidance of Wellington, strategy. “This (Trend) must result in net capital access to the United States and other markets with structural results for US dollars, capital and bond markets.”

There are limitations to how far this trend can

However, US pension funds also consider their positions. Scott Chan, a $ 350 billion state teacher’s pension system, was reported by the head of $ 350 billion in this week’s head of $ 350 billion this week and purchased by the largest trade partners of the Pandora’s tariffs.

“For us, we need to diversify our question, because we are very directed to us.”

This year, the shift of the dollar has been particularly painful for foreign investors who have US assets, but do not hedge the currency risk.

Bank of Bank of Bank of America, if these hedges returned to the level of covid hedging again, it can be said that European investors can be hedged in $ 2.5 billion in dollar assets. Such activities are expected to put down the decline in dollars.

However, many investors do not in a hurry, taking into account the risks of betting against long-term growth of US markets.

“We have the exclusive (and) internal disputes, regardless of our reduction of our division,” said an investor. “Experience says that you need to be careful in these turns and betting the bet on the United States does not work well.”

Additional report by Alan Livsey