August monthly reports published
August painted a mixed picture with continued relatively strong macro data, while interest rates grinded lower on the back of geopolitical issues such as the hurricane Harvey and nuclear bomb testing in North Korea. In Sweden inflation data surprised with much higher number than expected, setting the new target CPIF at 2.4%, after having hovered just below the 2% target for a few months. However, both funds suffered on the lower interest rates, especially Trude which was more outright exposed to higher interest rates and higher credit spreads. In August Excalibur was virtually unchanged at -0.02% and Trude backed -0.65%.
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