Allianz GI：贸易战升级的风险相比“解放日”后显著升高

Core Viewpoint - Allianz Global Investors indicates that the risk of an escalation in the trade war between the world's largest economies has significantly increased compared to last year's "Liberation Day," and expects precious metals to benefit as investors seek safe havens [1][2]. Group 1 - The chief economist of Allianz Global Investors, Christian Schulz, stated in a report that if European investors withdraw capital from the U.S., the euro may benefit, which could impact U.S. Treasury bonds [1][2]. - In this scenario, both the U.S. dollar and euro are unlikely to serve as reliable safe havens, leading to precious metals and possibly the yen becoming the main beneficiaries [1][2].