February monthly reports published
The positive risk sentiment continued in February with higher equities and lower credit spreads. While the solution for the trade conflict between the US and China as well as Brexit continues to be pushed forward the financial markets focused on solid macro data and the fact the the big central banks have taken a softer stance to the process of normalizing interest rates. Unemployment numbers as well as preliminary GDP numbers for the forth quarter were surprisingly strong, and CPI continues to be subdued. Larger auction volumes in credit bonds were met with even larger demand, which shows a continued large interest to reallocate back into credits after the sell-off in the fall.
Excalibur returned +0,19% and Trude +0,52% in February where higher rates in the short end and tighter credit spreads contibuted to the positive results.
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