---
title: The search for a new reserve north star
description: “Risk free” used to be a number on a government bond curve, today it is also a judgment about politics, sanctions and access. When a G20 central bank can see its reserves frozen overnight and an energy shock can move gold, US Treasuries and Chinese bonds in three different directions, the old definition of safety no longer fits.
---

[Slow food for thought](https://blog.syzgroup.com/slow-food-for-thought)

# [The search for a new reserve north star](https://blog.syzgroup.com/slow-food-for-thought/the-search-for-a-new-reserve-north-star)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/slow-food-for-thought/author/charles-henry-monchau) | Mar 31, 2026, 8:10:41 AM

<https://blog.syzgroup.com/hubfs/Focus_260331_NorthStar.pdf?hsLang=en><https://blog.syzgroup.com/hubfs/Focus-Changing%20investment%20preferences%20from%20boomers%20to%20GenZ-31.08.23.pdf?hsLang=en>

[View full post](https://blog.syzgroup.com/slow-food-for-thought/the-search-for-a-new-reserve-north-star)

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