Regional debt crisis may "wipe out 700 billion USD" | Norges Bank Investment Management

What might happen to the fund's value in a regional debt crisis? Our 2025 stress test finds the fund could drop 32% in value — that's around 700 billion dollars. In this video, you learn more from Strategy Researchers Owen Yang and Andrea Nocera, based in our London office. A regional loss of confidence in government bonds drives up political uncertainty and long-term yields, with the shock rippling through global markets. We manage the fund with the aim of the highest possible return at moderate risk. To achieve this, we need to identify, measure and manage the risks the fund faces. We use multiple approaches: 📊 Risk metrics (tracking error and expected shortfall) 📊 Stress testing 📊 Concentration analysis 📊 Factor exposure The stress test is a collaborative effort from our Strategy Research team and our risk department, with input from our internal investment professionals. The full report is available here: https://www.nbim.no/contentassets/c7d3b015300d48a1ac0136f069b9bed7/gpfg_stresstesting-2025.pdf #oljefondet

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