Norway's $2 trillion sovereign fund proposes deep cuts to US Treasury holdings - The Business Standard
Norway's $2 trillion sovereign fund proposes deep cuts to US Treasury holdings - The Business Standard
Source: The Business Standard
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DW NOTE
Norway's sovereign wealth fund manages $2 trillion — roughly twice the country's GDP — built almost entirely on fossil fuel revenue. Now it wants to reduce exposure to the debt of the country whose Navy keeps the shipping lanes open. The fund returned 14.5% in 2023 while holding $340 billion in US Treasuries. The proposal comes as 10-year yields hit 4.77% and the US deficit runs at 6% of GDP, meaning Norway would be selling into the highest yields in over a decade while the US needs to roll over $9 trillion in maturing debt this year.