"Denmark's concern successful U.S. Treasury bonds, similar Denmark itself, is irrelevant," U.S. Treasury Secretary Scott Bessent told reporters astatine Davos connected Wednesday.
The "sell America" trade was successful afloat plaything Tuesday aft President Donald Trump and European leaders escalated tensions over Greenland. U.S. stocks and enslaved prices tumbled, sending yields spiking.
It comes arsenic Trump's threats to enforce 10% tariffs on 8 European countries arsenic portion of his propulsion to instrumentality implicit Greenland spooked markets. The levies would travel into unit connected Feb. 1, Trump said, and aboriginal emergence to 25%.
Europe's holdings successful U.S. treasuries, however, person been tipped arsenic a imaginable countermeasure.
When asked however acrophobic helium is astir European investors pulling retired of treasuries, Bessent said astatine a property league astatine the World Economic Forum: "Denmark's concern successful U.S. Treasury bonds, similar Denmark itself, is irrelevant."
"That is little than $100 million. They've been selling Treasuries for years, I'm not acrophobic astatine all."
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