资金从新兴市场流入美国

I agree with the strong dollar point. It's hard to argue against the US as a safe haven right now, especially with global uncertainties.

Good point on the less interest-rate sensitive sectors. Which ones are you thinking about specifically? Tech often comes to mind but can be volatile.

While capital flows are a factor, aren't corporate earnings and domestic economic strength more critical for US equities? The tailwind might be overstated.

It's a double-edged sword though. A strong dollar can also hurt US exporters. We need to watch that balance.