A European wealth fund proposes cutting US Treasuries by nearly US$80 billion
Bloomberg quoted Norges Bank telling the ministry that high government debt now runs across developed economies rather than marking out a few countries, which the bank said justifies the change.
Approval is not assured, Bloomberg reported, noting the fund has spent years seeking permission to invest in private equity without success.
State secretary Ellen Reitan said in an emailed comment to the outlet that the finance ministry “will thoroughly review the recommendations” and will “address any proposals for adjustments to the investment strategy in the white paper on the fund, which will be presented to the parliament in the spring.”
A Norges Bank IM spokesperson told Reuters the proposals will form part of recommendations to the ministry in January, and the site reported that any cuts are unlikely to land until several months into 2027 at the earliest.
The US 10-year yield topped 4.75 percent on Monday for the first time since January 2025, according to Bloomberg.
