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Story summary
- Geopolitical tensions are the top global risk for nearly 100 central banks managing over $9.5 trillion in reserves, with almost 70% ranking it first—up from 35% last year.
- Trust in the U.S. dollar has waned, losing more than 12% versus other currencies.
- Only a third expect U.S. bonds to outperform bonds from other economies.
- Gold remains a favored asset, with nearly 75% of central banks holding it in reserves.
