Norway’s proposed cut comes as Washington faces rising deficits and shrinking demand for its debt
Norway’s $2.3 trillion sovereign wealth fund could sharply reduce its holdings of US Treasuries under a proposed overhaul aimed at boosting returns through other types of debt, the institution has announced. The shift could cut its Treasury allocation by almost $80 billion, according to Financial Times estimates.
Norges Bank Investment Management (NBIM), which manages the world’s largest sovereign wealth fund, recommended in a letter to Norway’s Finance Ministry on Tuesday that government debt be cut from 70% to 50% in its fixed-income portfolio…
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