冈拉克重申了他对国际敞口的偏好，表示投资者应考虑将投资组合的30%-40%分配给未对冲的国际股票(非美股票)。他表示，此类头寸可能会从当地 货币对比美元的升值中获益。 根据芝商所的美联储观察工具显示，美联储在4月会议(即鲍威尔任内最后一次会议)上降息的概率目前仅约为26%，按兵不动的概率则高达74%。 有着"新债王"之称的双线资本(DoubleLine Capital)首席执行官冈拉克(Jeffrey Gundlach)周三表示，他预计在鲍威尔担任美联储主席的剩余任期内，美联 储都将维持利率不变。 冈拉克表示，"我敢打赌，在鲍威尔任内不会再有另一次降息了。我认为他正在竭力强调，通胀虽然略有上升，但并不像几个月前所担心的那样糟糕， 而且失业率也已不再呈现显著上升趋势。" 目前，美联储在鲍威尔主席任期届满前仅剩两次货币政策会议——3月和4月会议。假设获得参议院确认，美联储新任主席将在6月的会议上正式"接过 帅鞭"。 周三，美联储将联邦基金利率目前区间维持在3.5%至3.75%不变。会后声明指出经济活动正"以稳健步伐扩张"，决策者同时注意到失业率已显现稳定迹 象。美联储主席鲍威尔则在记者会上表示，近期数据描绘的前景 ...

DoubleLine Capital首席执行官Jeffrey Gundlach表示，预计美联储在现任主席鲍威尔剩余任期内将维持利 率不变。 Gundlach被称为新债王，其周三在CNBC节目中表示："我会重注押注鲍威尔任期内不会再有降息。"他 指出，鲍威尔正在强调虽然通胀略有抬升，但不如几个月前担心的那么糟糕，失业率也不再继续大幅上 升。 美联储当天维持联邦基金利率在3.5%至3.75%区间不变。会后声明显示，经济活动稳步扩张，失业率企 稳。 鲍威尔在新闻发布会上表示："从最新数据来看，我和我的很多同事都认为当前政策不具有显著限制 性。" 据芝商所FedWatch显示，到2026年底市场预期将有两次25个基点的降息。 这意味着，若要在鲍威尔任内启动降息，不仅需要数据在短期内出现足够明确的转向信号，还要在有限 会议窗口内形成共识并完成政策沟通。 市场定价：短期按兵不动，中期仍留降息想象 尽管Gundlach对鲍威尔任内降息持否定态度，利率期货定价并未完全否定未来宽松预期。芝商所 FedWatch显示，市场仍预计到2026年底前将有两次25个基点的降息。 对投资者而言，这种分化意味着两层含义：一是短端利率预期可能 ...

Core Insights - Atwater Malick disclosed a purchase of 42,862 shares of the iShares MSCI ACWI ex U.S. ETF, valued at approximately $2.84 million, indicating a strategic investment in international equity markets [1][2]. Fund Overview - The iShares MSCI ACWI ex U.S. ETF has an Assets Under Management (AUM) of $7.87 billion and a current price of $70.15, reflecting a 32% increase over the past year [4][5]. - The ETF offers a yield of 2.8% and has achieved a total return of 32.48% over the last year, making it an attractive option for investors seeking international diversification [4]. Investment Strategy - The fund aims to track the MSCI ACWI ex U.S. Index, providing exposure to both developed and emerging markets outside the United States, with at least 80% of assets invested in component securities of the underlying index [7]. - The portfolio consists of approximately 1,750 large- and mid-cap companies, with significant exposure to financials, industrials, and global technology sectors [9]. Recent Transactions - Following the recent purchase, the fund's holding in ACWX rose to 4.2% of its 13F reportable assets, indicating a strategic allocation towards international equities [2][3]. - The transaction appears to serve as a counterweight to existing U.S. mega-cap holdings, suggesting a balanced approach to asset allocation amid changing market conditions [6].

Core Insights - The article discusses the positive outlook for international stocks in 2026, highlighting robust earnings, economic growth, and attractive valuations compared to the S&P 500 [2] - It emphasizes the potential for diversification away from the tech-heavy S&P 500, suggesting that international stocks are an appealing alternative for investors [2] Economic Context - Several international economies are expected to implement significant fiscal stimulus, which is anticipated to enhance stock market performance [3] - Germany's fiscal spending is projected to increase, with a focus on a €500 billion infrastructure fund and raising defense spending to 3.5% of GDP by 2029 [3] - Japan has announced its largest stimulus package since the pandemic, totaling ¥21.3 trillion (approximately $136 billion), aimed at inflation relief for key industries such as AI, semiconductors, and shipbuilding [4] Investment Methodology - The list of the 10 Best Non-US Stocks to Buy According to Hedge Funds was curated using the Finviz stock screener, WSJ, and Insider Monkey's Q3 2025 database [6] - Stocks were ranked based on the number of hedge fund holders, with market capitalization data sourced from the Wall Street Journal [6] Stock Highlights - **Shell plc (NYSE:SHEL)**: - Market Capitalization: $204.91 billion - Number of Hedge Fund Holders: 48 - Announced a final investment decision on its waterflood project at Kaikias field, expected to increase recoverable resource volumes by approximately 60 million metric barrels of oil equivalent [8][10] - Wall Street maintains a bullish outlook, with a Buy rating and a price target of £2,686.5 from Goldman Sachs and Barclays [12] - **Novo Nordisk A/S (NYSE:NVO)**: - Market Capitalization: $224.04 billion - Number of Hedge Fund Holders: 50 - Received a positive opinion from the European Medicines Agency for a higher dosage of Wegovy, showing improved weight loss results of around 20.7% at 72 weeks [14][15] - The stock has a cautious outlook from Wall Street, with a Hold rating and a price target increase from $47 to $54 by HSBC [17]

Core Insights - U.S. stocks, particularly large-cap stocks, have shown strong performance over the past decade, with the S&P 500 index achieving a 15.3% annualized return, while the MSCI World ex-USA Index returned 8.4% [1] - In contrast, during the first nine months of the current year, the MSCI World Index outperformed the S&P 500, returning 25.3% compared to 14.8%, suggesting potential for international stocks to continue outpacing U.S. equities [2] ETF Analysis - The Vanguard Total International Stock ETF (VXUS) tracks the FTSE Global All Cap ex US Index, investing in 8,700 stocks with significant allocations in Europe (38%), Pacific (25.4%), and emerging markets (27.6%) as of September 30 [5] - The Vanguard Total International Stock ETF returned 26.6% for the first nine months of the year and has a 10-year annualized return of 8.3%, with a low expense ratio of 0.05% compared to the average of 0.85% for similar funds [6][7] - The Vanguard FTSE Europe ETF (VGK) aims to replicate the performance of the FTSE Developed Europe All Cap Index, including companies across various market caps in major European markets [10]

Core Insights - Japan's foreign stock purchases for the week ending July 4 amounted to a net sell of 512.7 billion yen, a significant decrease from the previous value of 190.6 billion yen [1] Summary by Category - **Foreign Investment Trends** - The recent data indicates a shift in Japan's investment strategy, with a notable outflow from foreign stocks [1] - **Comparative Analysis** - The current week's foreign stock purchases represent a drastic change, moving from a positive inflow of 190.6 billion yen to a substantial outflow of 512.7 billion yen, highlighting a potential shift in market sentiment [1]