The "anything but dollar" trade

[ergophobe]

New research from Bank of America shows that international stocks might be poised to outperform American equities. According to Bloomberg reporting, a new BofA report showed that international developed market stock funds have received $104 billion of new investment inflows so far this year, while U.S. stock funds have only received $25 billion.

BofA analyst Michael Hartnett calls this trend the "anything but dollar" trade, where investors are seeking opportunities in other international markets away from a weaker U.S. dollar. During the past year, the S&P 500 index and the tech-heavy Nasdaq-100 index have been strongly outperformed by European, Pacific, and emerging market stock index ETFs.

https://www.fool.com/investing/2026/03/01/104-billion-is-flowing-to-international-stocks/

[Rupert]

Not a big surprise. And Trumps now at war, so he will be difficult to shift from his podium.

[rcjordan]

>he will be difficult to shift from his podium

Which is why he is now at war

[ergophobe]

I had a long rant, but I'll spare you and stick to the economics and investing angle

I'll just repeat that a few years ago, I basically moved half of my liquid savings out of US investments (still held at US brokerages, because I don't know how to change that).

I once had a Swiss bank account (not a numbered account, just your regular retail savings account like anyone). I have thought about opening a new one if possible and just putting a chunk of money in a Swiss bank. Their debt-to-GDP is among the lowest in the developed world, so I'm guessing it's a good place to hold cash if you're worried about inflation taking a chunk.

Of course the collapse of Credit Suisse in 2023 wasn't reassuring (my account was with UBS)