Overview
- AkademikerPension, which manages about $25 billion for Danish teachers, confirmed it will exit its roughly $100 million Treasury position by the end of the month.
- Chief investment officer Anders Schelde called the U.S. “not a good credit” and linked the move to concerns over debt sustainability and President Donald Trump’s push to take control of Greenland.
- U.S. Treasuries faced heavy selling on Tuesday, with 10-year yields rising to their highest level since September despite recent Federal Reserve rate cuts.
- Gold set a new record as the dollar and U.S. stocks fell, and Ray Dalio warned that sovereign funds could reduce U.S. exposure if they no longer view the country as a stable partner.
- Long-dated Japanese government bond yields jumped by about 25 basis points, underscoring broader strains across global sovereign debt markets.