ICYMI - USD "turbo bid" and who is “throwing currency caution to the wind”

A piece from Bloomberg with comments from CIB on the US dollar, with comments on investors abandoning their currency hedges on American assets.

CIBC ( Canadian Imperial Bank of Commerce):

• Japan- and Europe-based companies and bond funds "throwing currency caution to the wind" is one critical factor behind the greenback's recent "turbo bid," according to the Canadian Imperial Bank of Commerce.
• "Just put yourself in the shoes of an asset manager in either the Eurozone or Japan that has allocated capital to US assets
• Ask what the incentive is to hedge FX risk given that it offsets your yield pickup."

Here is the link for more while we await AsiaFX to get a bit more active.

So I guess the next question is … What could possibly go wrong? ;-)