According to online reports, at the "2025 Asset Management Annual Conference", Dirk Willer, Citi's head of global macro and asset allocation research, shared investment views on major global markets in the second half of this year. Dirk Weiler first outlined Citi's views on the allocation of various assets: overallocation of stocks (especially the United States, including to some extent Europe) and underallocation of British stocks; neutral attitude towards government bonds, overallocation of emerging market bonds, underallocation of Japanese government bonds; underallocation of investment-grade credit in Europe and the United States; neutral attitude towards commodities; short the US dollar and long the euro and some emerging market currencies. In terms of the stock market, Dirk Weiler pointed out that "American exceptionalism" has clearly returned, which can be clearly seen from its performance relative to Europe and other regions of the world. The core driving force is the return of artificial intelligence trading-The performance of the technology sector leads the U.S. market and has become a key support. (21 Asset Management)