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AI Summary
- Unusual market moves—S&P 500 down 2%, Treasury yields up, dollar down simultaneously—have revived discussions of the 'Sell America' trade amid Trump administration geopolitical tensions
- Pimco CEO Emmanuel Roman analyzes whether recent market moves represent specific 'Sell America' flows or broader global rising long-bond yields affecting multiple markets
- Pimco is investing in data center debt and using AI internally while Roman expresses skepticism about gold's investment case despite its record prices