this post was submitted on 09 Apr 2025
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[–] [email protected] 86 points 4 days ago (21 children)

The moves offer a new challenge to the Trump administration, which had previously cited lowering Treasury yields as a key policy aim, and could mark a loss of investor confidence in the world’s largest sovereign debt market.

“The sell-off may be signalling a regime shift whereby US Treasuries are no longer the global fixed-income safe haven,” said Ben Wiltshire, a rates strategist at Citi.

This is potentially a seismic shift in global finance/economics.

If US treasuries are no longer considered the "investment of last resort" (which they shouldn't be, since even sane Americans lack the commitment and risk tolerance to fight corruption and degeneracy in their own country), this may result in the dollar losing its status as the global reserve currency.

If that happens, the Americans will be fucked.

[–] [email protected] 21 points 4 days ago (5 children)

Hi. American here. Us losing our reserve currency status is all I've wanted for half my life. It will be the deathblow to this evil fking empire and I can't wait to see it happen.

I know I'm boned. But knowing that the world at large can finally move beyond the regressive pull of the US gives me hope for the future.

[–] [email protected] 17 points 4 days ago (1 children)

The problem here is we don't have a better successor to our shitty system. China is likely to become the next dominant super power but we all know how fucked they've been to the Uyghurs, the Nepalese, India with border skirmishes, Asian mercantile boats through naval clashes, and practically every other country with their Wolf Warrior diplomacy. If fledgling markets thought US hegemony sucked, just think how China will treat them. They don't give a fuck about soft power.

[–] [email protected] 6 points 4 days ago

That's the real problem, China so far has made the Americans look good. But the way Americans are behaving (and their medium capabilities for reform) makes the calculus a little bit more complex.

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