BofA Says Anything-But-Dollar Trade to Lift International Assets
US assets have been roiled since President Donald Trump’s historic tariffs announcement in April.
Photographer: Jim Lo Scalzo/EPA/BloombergUS trade policies are creating a “new world order” as investors swap the dollar and American equities for international assets, according to Bank of America Corp.’s Michael Hartnett.
The Trump administration’s “run it hot policy means new ‘anything but dollar’ trades” where US exceptionalism is turning into global rebalancing, the strategist wrote in a note.