The “sell America” trade is back with investors cutting exposure to US assets and pricing in a higher risk premium on American investments.
US bonds sold off hard. In FX, the euro surged against the US dollar. Safe havens were the main beneficiaries. Gold and silver pushed to fresh highs, and the former was on track for its biggest one day gain since October.
The move followed President Donald Trump’s threat to impose 10% tariffs on eight European countries, tied to his push to take over Greenland. In response, European officials are considering counter tariffs. Additionally, The Goble And Mail is reporting that the Canadian Armed Forces have modelled a US invasion.
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