US Treasury

Bessent: “Looking for other US assets”

US Treasury Secretary Scott Bessent downplays concerns about a decrease in interest in US government bonds after the news that the Norwegian oil fund is about to make a big sale.

– They are just looking to increase their returns with other US assets, he says according to Bloomberg.

It was the Financial Times that reported on Friday that the oil fund is considering selling US government bonds worth 80 billion dollars, equivalent to just over 760 billion kronor.

The oil fund's US noob: Selling loans for 760 billion

The Norwegian oil fund is considering selling US government bonds worth 80 billion dollars, equivalent to just over 760 billion kronor. This is reported by the Financial Times.

Pension veteran Rose Marie Westman states in a comment to EFN that she is not surprised.

“Uncertainty about how the US will handle its national debt going forward has increased. The US is ready to relax the rules,” she says.

When a country’s government bonds change hands on the secondary market, the borrowing country, in this case the US, is not directly affected. What can happen is that large sales drive up market interest rates, such as the all-important US 10-year yield.