Danish pension fund plans to liquidate US bonds, UBS: may backfire

According to foreign reports, Sergio Ermotti, the CEO of UBS Group AG, stated that Europe attempting to use U.S. Treasury bonds as leverage in the Greenland issue would be a dangerous gamble that could backfire, as the U.S. is the world's strongest economy and it is impossible to break free from dependence on the U.S.

Previously, the Danish pension fund AkademikerPension, which holds about $100 million in U.S. Treasury bonds, announced plans to sell all of its holdings by the end of this month, raising concerns in the market about transatlantic relations, as European countries hold trillions of dollars in U.S. Treasury bonds and stocks, some of which are held by public sector funds.

Anders Schelde, the investment director of AkademikerPension, stated that given the U.S. government's debt situation, there is reason to believe that the risks associated with U.S. debt are too great, and the entire Europe is acutely aware of the need to be self-sufficient