Norway fund bets ECB move will lift Spain bonds

Oslo

NORWAY'S US$860 billion sovereign wealth fund, the world's biggest, has bought up Spanish government bonds in anticipation that European Central Bank (ECB) debt purchases will drive up their value.

Holdings of Spanish government bonds rose by 67 per cent to 46.7 billion kroner (S$8 billion) in 2014, Norges Bank Investment Management (NBIM) said in its annual report on Friday.