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Sixty-one percent of those surveyed anticipate a decline in the value of the US dollar within the next year, reaching the highest point since May 2006.
The dollar has declined 9 percent relative to a collection of key currencies this year, and its drop has intensified since US President Donald Trump declared import tariffs in early April.
Simultaneously, a historic proportion of worldwide investors (53 percent) plan to decrease the allocation of US stocks in their investment portfolios.
The shift in sentiment became clear when wagers on the stocks of the 'magnificent seven' (the biggest US tech firms) were displaced from the top spot as the most favored trading concept for the first time in over two years, making room for gold, a conventional safe haven during periods of global instability, according to the Financial Times.
The market value of firms in the S&P 500 plummeted by over $5 trillion within three days following Trump's announcement of broad import tariffs on April 2, sparking concerns about a recession in the worldwide economy. The results from the BofA survey indicate a decrease in risk tolerance among fund managers.
source: bloomberg.com
The dollar has declined 9 percent relative to a collection of key currencies this year, and its drop has intensified since US President Donald Trump declared import tariffs in early April.
Simultaneously, a historic proportion of worldwide investors (53 percent) plan to decrease the allocation of US stocks in their investment portfolios.
The shift in sentiment became clear when wagers on the stocks of the 'magnificent seven' (the biggest US tech firms) were displaced from the top spot as the most favored trading concept for the first time in over two years, making room for gold, a conventional safe haven during periods of global instability, according to the Financial Times.
The market value of firms in the S&P 500 plummeted by over $5 trillion within three days following Trump's announcement of broad import tariffs on April 2, sparking concerns about a recession in the worldwide economy. The results from the BofA survey indicate a decrease in risk tolerance among fund managers.
source: bloomberg.com