June monthly reports published
June turned out to be a calm month in the financial markets where interest rates and equities started higher but ended the month almost unchanged. Market focus was mainly on the escalating trade conflict with tariffs imposed now in July, and further and more severe measures announced for the fall. The outcome so far is less risk appetite, but the long-term consequence in this complex matter is much harder to analyze. In June, Federal Reserve announced another 25bp rate hike with continued hawkish stance and the ECB announced the awaited tapering of bond purchases in the fall with December to be the last month of buying. The Swedish Riksbank remained with their forecast for a first hike from -0,50% during the fall, and most likely in December despite the amounting outside pressure for a hike.
Excalibur returned -0,11% in June and Trude -0,46% where lower European yields had the most negative contribution.
Log in with your password and read the entire monthly reports for Excalibur and Trude with market comments, numbers and thoughts ahead.