It's more an indication of the way the wind is blowing than a big financial move.

That's what this is, a shot across the bow. 100mm is nothing

The fact that someone stood up and said “we do not trust the honor of the US to fulfill a debt” is important. We’ll see how much of an impact that actually has, but my kneejerk reaction is that it was meaningful.

Might be smart to dump any US bonds before the US economy ultimately crashes when the bubble bursts...

I actually rebalanced my 401k tonight and dumped all my bond holdings and most domestic stocks just an hour or so ago. (I did keep the index funds, though.)
Swapping most of the allocations over to foreign stocks (showing about 35% yearly returns, vs the still good 14% I was netting before). I also threw a small chunk into a gold commodity index fund, which is showing 150% growth in the last year. Risky, but what am I going to do? Live long enough to grow old? In this economy?

98 million?

An avalanche starts as a tiny bit of snow

Eh, fuck it. We're all goddamn poor anyway.

It's true the wealthy that cause these problems probably won't be impacted, though...

But hey, I hope I'm wrong.

Huh, so I spent 10 seconds googling it, and turns out they actually answered this very question 16 ish years ago....

https://www.cnbc.com/amp/2009/08/18/treasuries-and-treasurys-why-the-y.html

Is CNBC children’s NBC?

AI slop?

retirement accounts

lol

I think we will just end up in a militarized police state. Under constant surveillance

This seems to be a common ideology. It seems to have the idea that American Exceptionalism needs a humbling dose of economic collapse, and then all will be good. The thing is, I don’t completely buy the “and then all will be good” part. There are far too many rich twats standing at the ready to purchase up any remaining stable assets, while the average joe struggles to afford even basic needs. Is that really the pain that America needs for it to learn its lesson? Especially when the boundaries between private money and politics are so thin and blurry, what benefit can you see from further enriching the oligarchs of the west?

I would expect an economic collapse to be a fatal blow, by this point, to the way of life that Americans and American immigrants had long sought after: the chance to get ahead in life. Its a wealth transfer. Far less humbling than it is completely destructive, and you’ve got to ask what the world looks like from that point forward. How do you manage a US that looks a little more like new Russia than the old US?

I hope not, but sometimes it only takes one match to start an inferno.

Its not much numerically, but this is the first time a foreign holder of bonds has publicly announced they no longer have faith in the credit of the United States.

That is a big headline in the financial world. The entire international finance market is currently reassessing the stability of the US in a negative light. The only way out from here is down.

Now if Japan decided to offload on the other hand...

There will be a ripple effect now that at least one has taken the action. Let's hope it snowballs.

My thought exactly. But in adding to your contextual contribution:

This is a really small and rather obscure pension fund for academics, which has a elitarian focus on being sustainable. Don't get me wrong, even if all Danish pension funds dumped all their US federal bonds in a day it wouldn't register in the price.

We need to bring the Norwegian oil trust in on this.