According to Wallstreetcn, Norway's sovereign wealth fund proposed reducing the number of government bonds in its $2.3 trillion portfolio, saying lower exposure could provide ample margin of safety for liquidity needs. In a letter sent to the finance ministry on Tuesday, the fund said government bonds should account for 50% of total bond holdings in the portfolio, down from 70%, and the Financial Times estimated the move could lead it to trim about $80 billion of U.S. Treasuries, reducing global government bond allocations by about $106 billion, mostly U.S. Treasuries.