from King World News
As we near the end of the first quarter of 2025, this is wild…
This Is Wild And It Will Impact The US Dollar
March 20 (King World News) – Peter Boockvar: I’ve argued over the past few months that the Mag 7 stocks became a reserve currency holding for foreign holders, including some central banks like the Norges Bank and the Swiss National Bank. My friend Torsten Slok posted this chart yesterday highlighting the extent to which foreigners own US stocks. I reiterate my belief expressed last month that the dominance of the AI tech/Mag 7 trade is over and also has possibly repercussions for the US dollar as foreign money finds opportunities elsewhere. Also, if the administration is successful in reducing the US trade deficit (whether a laudable goal or not), foreigners will have less money to reinvest in the US as they accumulate less dollars.