Heritage Global (NasdaqCM:HGBL) Q3 2025 Earnings Call November 06, 2025 05:00 PM ET Speaker0Hello, and welcome to today's Heritage Global third quarter 2025 earnings call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. You may register to ask a question at any time by pressing the star and one on your telephone keypad. You may withdraw yourself from the queue by pressing star two. Please note this call m ...

美元指数表现 - 彭博美元指数2025年上半年下跌逾8%，创有记录以来最差年度开局 [2] - ICE美元指数年内跌幅约9%，可能创1986年以来最差上半年表现 [2] 美元走弱原因分析 - 特朗普政策不确定性扰乱全球市场，动摇投资者信心 [6] - 外国投资者持有美国证券规模达31万亿美元，过去十年翻倍 [6] - 交叉货币基差互换显示美元需求减弱，欧元和日元需求增长 [8][9][11] 外汇市场趋势变化 - 欧洲投资者可能转向本土市场，增加欧元作为替代储备货币 [6] - 摩根士丹利报告指出投资者购买美元计价资产意愿降低 [11] - 高盛认为欧元在交叉货币基差互换中比美元更具价值 [12] 美国债务市场影响 - 美国将更依赖国内买家吸收增加债务 [7] - 需要增强金融中介能力为体系提供杠杆 [7] - 法国巴黎银行观察到资金从美国流向欧洲的趋势 [12]