December monthly reports published
December delivered another leg down in equities after a quieter November. Stock markets fell globally with US equity indices leading the way down. A forth interest rate hike for the year from FED, continued trade war fear and profit warnings from leading tech companies were said to be the main reasons. Interest rate markets reacted with a sharply lower yield curve in the US, while already low European yields came down slightly in the long end. Credit spreads widen as a result of lower risk appetite. In Sweden the Riksbank delivered the first rate hike in seven years which resulted in slightly higher short end interest rates and a strengthening of the Krona.
Both Excalibur and Trude ended the month slightly positive despite being positioned for higher interest rates. A general view on flatter yield curves and belief in a Swedish rate hike helped deliver a positive return. Excalibur returned +0,10% in December and Trude returned +0,23%. Log in with your password and read the entire monthly reports for Excalibur and Trude with market comments, numbers and thoughts ahead.