BREAKING: Sweden’s largest pension fund Alecta has sold nearly $8 billion worth of US Treasury bills.

The reason behind this move is rising political uncertainty, weaker policy predictability, large U.S. budget deficits, and growing government debt.

They also increased hedging against the U.S. dollar, showing reduced confidence in USD stability.

This comes just one day after Denmark’s Akademiker Pension announced a full exit from U.S. Treasuries.

European pension funds are no longer treating U.S. government debt as risk-free.