Norges Bank, which manages Norway’s Government Pension Fund Global (GPFG), one of the world’s largest sovereign wealth funds, with over $2.3 trillion of fund value, has recommended a sweeping change to how the fund holds government bonds, including US Treasuries. In a letter to Norway’s Ministry of Finance, Norges Bank, the central bank of Norway, proposed cutting the government bond subindex of Norway’s sovereign pension fund’s bond benchmark from 70% to 50%.