Swedish and Danish pension funds have been selling off US debt assets one after another.

The largest private pension fund in Sweden, the Allra Pension Fund, announced on January 21 that it had sold most of its holdings in US Treasury bonds in the past year due to the "unpredictability of the current US government and the growing US debt". The Allra Pension Fund manages around 1.3 trillion Swedish kronor in assets. According to a source, the fund has sold approximately 70-80 billion Swedish kronor in US bonds. The day before, the Danish "Academic Pension Fund" also announced that it would sell 100 million US dollars in US bonds by the end of the month, citing the poor financial situation of the US government. Another Danish pension fund, PBU, told local media that they are also selling US bonds. The fund's manager said, "We want to reduce our dependence on the United States in case Trump decides to impose sanctions directly on the Danish financial industry."