Scott Besant

Now, the Europeans are very good at value signaling.

And if you remember, probably their most strident moment, their most strident moment against Russia, Ukraine, was when they put the Ukraine, shown the Ukraine flag up on the side of the EU Parliament building.

I am sure that Vladimir Putin was quaking in his boots.

So, look, the Europeans, they like to talk in these big terms, and they're our allies.

They want to be under the U.S.

umbrella, and they will be.

Well, Steve, a couple of things.

And I wanted to backtrack for a moment because

I don't believe that the markets are going down or I don't believe the primary catalyst for the market going down is the kerfuffle over Greenland.

I believe the markets are going down because the Japanese bond market had a six standard deviation move for the past two days.

That would be in their 10 year bonds.

I've been in touch with my economic counterparts in Japan and urged them to take the necessary measures to stabilize their bond market.

But that's spilling over into all bond markets.

German yields are up.

French yields are up.

U.S.

yields are up.

And again, it's mostly the Japanese bond market.

Got nothing to do with Greenland.

And the Europeans can shake their fist.