Top sovereign wealth fund may dump $80 billion in Treasury bonds — and load up on other types of U.S. debt with more risk

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Norges Bank Investment Management, the world’s biggest sovereign wealth fund with $2.3 trillion in assets, proposed reshuffling its U.S. debt holdings away from Treasuries.

In a letter to Norway’s finance ministry on Tuesday, the fund’s manager recommended slashing government debt in its benchmark bond index. That would result in $80 billion of U.S. Treasury securities being offloaded.