📝Europe Is Largest Foreign UST Holder: Nordea

The tension over Greenland might be over, but the impact on the dollar and the financial market is not. The concern around US exposure was confirmed by several pension funds announcing publicly that they were scaling back their exposure to US bonds because the situation had reduced their confidence in the political and fiscal situation. This is an important signal, because the foreign sector owns around 30% of the total government debt in the US. The geopolitical tension around the US, Greenland and NATO is particularly bad given Europe has become one of the largest holders around the world, while China has reduced its exposure over the last decade. - Nordea