berg80
Diamond Member
- Oct 28, 2017
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Danish pension fund to sell $100 million in Treasurys, citing āpoorā U.S. government finances
Danish pension operator AkademikerPension said it is exiting U.S. Treasurys because of finance concerns as Denmark spars with President Donald Trump over his threats to take over Greenland.Anders Schelde, AkademikerPensionās investing chief, said the decision was driven by what it sees as āpoor [U.S.] government financesā amid Americaās debt crisis. But it also comes as tensions escalate between the U.S. and Denmark after Trumpās latest threats to tariff European countries if Greenland, an arctic territory of Denmark, isnāt sold to the U.S.
āIt is not directly related to the ongoing rift between the [U.S.] and Europe, but of course that didnāt make it more difficult to take the decision,ā Schelde said in a statement to CNBC.
āIt is not directly related to the ongoing rift between the [U.S.] and Europe............Come now, who is kidding who? Of course it's related to trump's threats. The timing makes it obvious.
In the grand scheme of things $100M isn't a big holding in treasuries. Countries like China and Japan own billions. It's more about what it says. Namely, other countries have ways to retaliate against trump. Who is clearly out of control as he rages against all things.
It's not going to matter to US interest rates even if trump appoints a sycophant to the Fed in an environment with the bond market sending yields higher in the face of uncertainty over just how much of a dangerous fool trump really is.