@EdwardGLuce @anneapplebaum @katie_martin_fx 1).
„On Monday, the market reaction to @realDonaldTrump's latest assault on the global order has been extremely telling. The rules of the road up to now have been pretty simple:
@EdwardGLuce @anneapplebaum @katie_martin_fx @realDonaldTrump 2).
geopolitical shocks push up the dollar and US government bonds because they are the safest, most reliable, most easily tradeable bits of the global financial system. They are very useful shock absorbers when bad stuff happens, even when it is born in the US.
@EdwardGLuce @anneapplebaum @katie_martin_fx @realDonaldTrump 3).
That role has been creaking for a little while. But now, the wobble is plain for all to see. Bad stuff is very clearly happening with regards to Greenland. The dollar and Treasuries, however, are weakening.
@EdwardGLuce @anneapplebaum @katie_martin_fx @realDonaldTrump 4).
Not dramatically — although it is notable that benchmark 10-year US government bond prices are now at their weakest since September — but clearly. German Bunds and UK gilts, meanwhile, are doing just fine.”
Jan. 19, 2026
@FT archive.is/20260119162346…
@EdwardGLuce @anneapplebaum @katie_martin_fx @realDonaldTrump @FT Please unroll @threadreaderapp. Thank you in advance 𓃠
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