The halo of U.S. Treasuries is dimming! Global funds are shifting towards European debt, with German bonds becoming the new darling of safe-haven investments.

According to the Zhitong Finance APP, as global macro risks become increasingly complex and difficult to price, European bonds are gradually becoming a safe choice in the eyes of fund managers. UBS Asset Management and Guinness Global Investors have recently continued to increase their holdings in German government bonds; Barings has reduced its holdings in U.S. government bonds and shifted funds toward Italian, Spanish, and French bonds; Aviva Investors has also indicated that the overweight position in Eurozone bonds is highly attractive.