The Big Take
Treasuries Rally Is Proving Trump’s ‘Sell America’ Critics Wrong
Despite the drumbeat of worries — from looming deficits to attacks on the Fed — US government debt secures its reign as the world’s most trusted asset.
Illustration: Patrik Mollwing
Time and again, the preeminent status of the US in global debt markets has been called into question since Donald Trump returned to power. From sweeping tariffs and tax cuts, to yawning budget deficits and persistent attacks on the Federal Reserve — a steady drumbeat of worries had many on Wall Street sounding the same ominous alarm: “Sell America.”
In spite of it all, though, investors keep piling into US government debt.