“Denmark’s investment in U.S. Treasury bonds, like Denmark itself, is irrelevant,” U.S. Treasury Secretary Scott Bessent told reporters at Davos on Wednesday.
The “sell America” tradewas in full swing Tuesday after PresidentDonald TrumpandEuropeanleaders escalated tensions overGreenland. U.S. stocksand bond prices tumbled, sending yieldsspiking.
It comes as Trump’sthreats to impose 10% tariffson eight European countries as part of his push to take over Greenland spooked markets. The levies would come into force on Feb. 1, Trump said, and later rise to 25%.
Europe’s holdings in U.S. treasuries, however, have been tipped as a potential countermeasure.
When asked how concerned he is about European investors pulling out of treasuries, Bessent said at a press conference at the World Economic Forum: “Denmark’s investment in U.S. Treasury bonds, like Denmark itself, is irrelevant.”
“That is less than $100 million. They’ve been selling Treasuries for years, I’m not concerned at all.”
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