Original title: Australia’s No. 2 Pension Cuts Treasuries Bet on Rising US Risks
Australia’s second-biggest pension fund has grown increasingly bearish on US Treasuries due to concerns that Washington’s policies may stoke inflation. Australian Retirement Trust Pty, which oversees A$330 billion ($216 billion), is underweight US bonds through its dynamic asset allocation strategy, said senior portfolio manager Jimmy Louca in an interview last week.