Norway’s $2.4 trillion sovereign wealth fund wants to sharply reduce its exposure to US government debt. The fund has asked Norway’s Finance Ministry for permission to sell around $80 billion in US Treasuries as part of a wider restructuring of its bond portfolio.
US government debt currently accounts for about 34% of the fund’s government bond holdings, a share it wants to cut below 22%. The move comes as US borrowing costs rise amid inflation risks, conflict in West Asia and higher oil prices.
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