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[Westpac Banking: The Norwegian sovereign wealth fund’s reduction in bond holdings indicates that the market will usher in repricing] On September 4th, Westpac Banking stated that the Norwegian sovereign wealth fund plans to reduce its holdings of government bonds. There are reports that this may include a considerable amount of U.S. Treasury bonds. This situation is not unexpected. Martin Wheaton, the bank's head of financial market strategy, wrote in a research report: "Since Liberation Day, the political and economic environment has changed, and overseas allocations to U.S. debt have no longer grown." "Affected by the political environment, it has become more difficult to find overseas buyers accounting for 35%."
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