WASHINGTON (dpa-AFX) - Danish pension operator AkademikerPension said it is exiting its holdings in U.S. Treasurys, pointing to concerns over U.S. government finances as political tensions rise between Denmark and President Donald Trump over Greenland.
Anders Schelde, the chief investment officer of the fund, mentioned that they decided to pull back because they see the U.S. public finances as shaky, especially with the growing debt problem.
He pointed out that while this decision isn't directly tied to the strained diplomatic relations between the U.S. and Europe, the rising tensions made it a bit easier to go ahead with it.
Right now, AkademikerPension has around $100 million invested in U.S. Treasurys and plans to be completely out of that by the end of the month.
Schelde also stressed concerns over years of government overspending and an increasing debt load, noting that the U.S. faced a hefty $1.78 trillion budget deficit last year.
This decision follows Moody's downgrade of the U.S. credit rating, which they issued due to ongoing deficits and high borrowing costs.
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