Manager of Norway's USD 2.3tln sovereign oil fund has proposed an overhaul of its government bond portfolio that could see it cut its holdings of US Treasuries by about USD 80bln as it looks to other types of debts to try to boost returns, according to FT
Manager of Norway's USD 2.3tln sovereign oil fund has proposed an overhaul of its government bond portfolio that could see it cut its holdings of US Treasuries by about USD 80bln as it looks to other types of debts to try to boost returns, according to FT - newsquawk.com
Source: newsquawk.com
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DW NOTE
Norway's $2.3 trillion fund wants to dump $80 billion in Treasuries while the Fed is weeks from hiking into a closed Strait of Hormuz and $1.4 trillion deficit. The world's largest sovereign wealth fund is timing its exit from US government debt for the moment Washington needs buyers most.