Freak sell-off of ‘safe haven’ US bonds raises fear that confidence in America is fading

Fading? Shit's gone, dog.

God investors are dumb as shit

Why would anyone still have faith in this country?

USD denominated bonds are by definition 100% exposed to the USD and it has been falling consistently (with but a single dead cat bounce) against other major currencies since Trump took over.

International investors are probably avoiding the Dollar (and hence Dollar-denominated assets) in favor of other currencies.

This would also explain why Gold keeps on beating records almost daily: it's sort of a "traditional" currency hence benefits from outflows from major currencies.

If this turns into the end of the Reserve Currency status for the USD, expect massive problems in the US with Inflation and servicing the massive US National Debt (if Treasury auctions have lower demand, Treasure yields have to go up in order to sell them, which is equivalent to say that interest rates on US Government loans go up).

This is arguably bigger news than the stock market.

I can heartily say as an American I have no faith whatsoever in this country and wish all the best in the world to the Canada-Europe-Japan conglomerate to be the only possible beacon of hope on the planet.

Nothing will meaningfully improve until the rich fear for their lives

As a guy who thought about buying bonds recently and decided to go to gold instead, my thinking was that Trump and/or Elon could definitely make some attempt to steal/divert treasury bonds, hold bonds hostage for some change he wants, or some other fuckery. The US can't go bankrupt - so long as you can trust the leaders to do the most basic rational things. But you can't trust them to do that right now.

I guess I picked a bad time to stop huffing glue.

Oh come on, "Freak" sell off makes it sound like there's some mystery as to what caused this when it's blindingly obvious what the problem is here. The markets, and far more importantly all decent and rational people throughout the world, won't and shouldn't have any confidence in anything as long as Donald Trump is president. The only thing that starts to fix this mess is his resignation or impeachment (and that is only a start, investigations criminal charges and sentences amendments to laws etc. all need to happen too).

If ya'll want another layer of irony to all this:

George Soros initially rose to general public fame/infamy with large bets against British Pound in 1992, that effectively defeated the Bank of England's attempts to stabilize the currency, resulting in its devaluation, and something like a billion $ profit for Soros.

Fast forward to now, and Trump supporters have spent the last 5 or 10 years acting like Soros is secretly the most underhanded and influential 'world controller' bogey man that exists, and they blame everything they don't like on being funded by him... despite pretty much all of his charities and funds and causes he donates to being publically available knowledge... and despite Soros being a fairly small fish in the modern ocean of much, much more wealthy and infuential corporations and individuals.

... So, now, Trump very well may have done basically the same thing as what Soros did 3 decades ago: force the devaluation of the USD and cause economic mayhem, but... at a much, much larger scale than Soros did.

The Trump supporters have utterly and entirely lost their own plot, that they themselves mostly fabricated.

It's not really a "freak" event when the causes are blatantly clear and self-inflicted.

Ya think? This is the end of American Hegemony.

How's the market for booze, bullets, and bread going?

There's a story floating around that Canada's PM, Mark Carney, may have initiated this threat so that Trump would back off on his tariff escalation.

https://lemmy.world/post/28074536