The “ex-America” #trade was a strikingly common theme at New York Life Investments’ global #investment meeting earlier this month, said Lauren Goodwin, an economist at the company.
“Our European colleagues were frankly stunned by the openness that #US investors have to diversify away from the US,” she said.
Goodwin & other investors stress that the sell America trade is more about hedging existing #US exposure, diversifying into other assets & deciding where to #invest new #money, rather than an attempt to leave the country entirely.
But over the past month, that #trading has fueled the sliding value of the #dollar, stalled the #StockMarket’s rise, increased government #borrowing #costs & sent the prices for precious metals like #gold soaring.
