There's a new term that's been making the rounds in the business world this week.
The sell America trade caused whiplash on Wall Street.
The quote sell America trade.
Sell America.
Sell America trade continuing to gain momentum.
Have you heard the term sell America?
We're familiar with the sell America story.
Sell it all.
Sell the bonds, sell the stocks, sell the currency.
Look, I think it's less about selling it.
It's more a question about stop buying it.
And if people stop buying, effectively it has the same effect, doesn't it?
The sell America trade refers to a new market phenomenon where investors overseas are pulling back from U.S. assets.
The business I'm overseeing is managing funds which invest in government bonds and other sorts of bonds for investors located worldwide.
Mark Dowding has quite the title.
He's the chief investment officer of Blue Bay Fixed Income at RBC Global Asset Management.
Mark is based in London, and he manages over $130 billion in assets.
Within all of the assets that we manage, The bulk of the assets,
you would say, are actually allocated to US dollar securities.
And why is that?