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Mohamed A. El-Erian, chief economic adviser at Allianz, warned that so-called key-man risk remains significant and questioned whether markets have fully accounted for it. He added that this issue will be difficult for the board to navigate.
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El-Erian has recently highlighted shifting positions among global investors. He reported that U.S.-friendly nations in Asia have scaled back their purchases of U.S. government bonds. Earlier, he noted that France has overtaken the UK with the largest government bond yield increase since U.S.-Israel attacks on Iran.