机构：美债美元遭历史性抛售 资金正涌向其他避险市场

Core Viewpoint - Institutional investors have significantly reduced their holdings in U.S. Treasuries and dollar assets, reaching multi-year lows, while increasing risk exposure in their portfolios [1] Group 1: Market Trends - In June, institutional investors increased their risk exposure but simultaneously made substantial cuts to their U.S. Treasury and dollar asset holdings [1] - The traditional safe-haven status of U.S. Treasuries and the dollar is being questioned by investors, as evidenced by the lack of buying interest despite market volatility [1] Group 2: Comparative Analysis - The trend of selling U.S. Treasuries contrasts sharply with the increased holdings in Japanese and European bonds [1] - Factors such as the stock market sell-off in Q1, growing concerns over fiscal sustainability in Q2, and recent conflicts in the Middle East have not triggered a buying spree for U.S. Treasuries or the dollar [1]