事关全球资产配置，外资最新动向！

Core Viewpoint - The Federal Reserve's decision to maintain interest rates has led to a new phase of market observation globally, influenced by inflation trends, trade policies, and geopolitical uncertainties [1][2][3] Group 1: Market Reactions and Trends - Multiple foreign institutions indicate that the uncertainty surrounding inflation, trade policies, and geopolitical issues is significantly impacting market expectations [2][3] - Despite the Fed's decision to hold rates steady, market volatility persists as investment institutions reassess asset prices and regional allocations [2][3] - The S&P 500 index has rebounded to near February highs due to easing trade tensions, but further policy-induced volatility is anticipated as tariff discussions continue [5] Group 2: Asset Allocation Shifts - There is a noticeable shift in foreign investment strategies towards Europe, Japan, and emerging markets, moving away from a cautious stance on the US market [2][7] - BlackRock's analysis suggests that with wage pressures easing and energy prices declining, the European Central Bank has more room to cut rates, making European investment-grade and high-yield credit more attractive compared to similar US assets [8] - Schroders has adjusted its focus from US equities to a more diversified regional allocation, favoring European markets, Japan, and emerging markets, while also preparing for a weaker dollar [10] Group 3: Sector and Asset Preferences - Schroders has upgraded its stock rating to positive, particularly focusing on financial stocks in the US and Europe, which may benefit from a steepening yield curve [9] - Allianz Investment highlights the strong performance of the Eurozone stock market due to improved market sentiment and political stability, while also favoring Eurozone sovereign bonds due to moderate inflation data [10]