Sovereign Funds Pivot to Energy, Flag Dollar Risk as $29 Trillion Moves

📉 SOVEREIGN FUNDS — $29T rotating to energy; the dollar flag is the real signal. 📌 LOOK CLOSER: Energy rotation during a Hormuz crisis is expected. The dollar flag is not: $29T in reserve capital publicly signaling currency risk accelerates de-dollarization exactly when Washington needs financial leverage to hold the 60-day roadmap. If reserve managers are moving, the economic pressure tool the US relies on most starts corroding before the diplomatic window closes.