The world's largest sovereign wealth fund has become disillusioned with emerging markets. What will happen to the ruble and OFZ?
The Norwegian sovereign wealth fund, which manages more than $1 trillion in assets, has been instructed by the government to cut its investment in corporate and government bonds in developing countries, writes Bloomberg. We are talking about 10 states, including Russia. So far, the Norwegian fund has been the largest foreign investor in OFZs. Now the yield of Russian government bonds may rise slightly, and the ruble may weaken, experts say. What's happened.