As the end of 2025 looms, one trend looks sure to follow investors into the new year: a widespread reluctance to go all-in on American assets.
It started back in April, when U.S. President Donald Trump’s so-called “Liberation Day” drove markets into a frenzy that saw a sell off of American stocks, government bonds and the U.S. dollar. The trades became known as “Sell America” — and in some circles, “ABUSA,” an acronym for the term “Anywhere But the USA.” The intervening months brought the “TACO” (Trump Always Chickens Out) trade when a series of policies were announced then rolled back.
“The average investor has far too much of their money sitting in the United States,” ETF.com’s Dave Nadig told CNBC last month. “Getting out of the U.S. somehow … is something I’m hearing more and more investors talk about.”
