Sweden’s largest private professional pension fund, Alecta, liquidates most of its U.S. Treasury bond holdings, reducing positions by roughly 70–80 billion Swedish kronor ($7.7–8.8 billion) since early 2025. The asset reduction comes from an initial portfolio of about 100 billion kronor in U.S. government debt.
Alecta cites rising risks linked to U.S. policy and economic uncertainty as the primary driver for cutting exposure to Treasuries. The move reflects broader concerns among global institutional investors about yield volatility and fiscal dynamics in the United States.
The selloff could influence fixed-income flows as other large holders reassess allocations amid shifting macroeconomic signals. Market participants watch for potential implications on demand and yield curves if similar adjustments occur across pension and sovereign wealth funds.