Erosion of confidence in the 'safe haven': Has the era of dominance for U.S. Treasury bonds ended?

​U.S. Treasury bonds are no longer the impregnable fortress for investors, especially in light of recent political shifts that have unsettled allies. This crisis is manifested in actual decisions, such as the Danish pension fund's move to divest its holdings due to worsening financial deficits and the absence of political discipline in Washington.

​Renowned economist Ray Dalio asserts that the loss of stability will make fleeing from U.S. debt inevitable. The greatest risk lies in the 'domino effect'; Europe's ownership of $1.8 trillion in these bonds means that any widespread sell-off will lead to a spike in interest rates and borrowing costs, potentially igniting an unprecedented global economic crisis. The rise of gold and fluctuations of the dollar are not just numbers, but a formal declaration of a global shift in the concept of 'financial security.'

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