October monthly reports published
Heavy drops in equities while macro data showed continued economic strength and higher inflation pressure dominated the financial markets in October. Interest rates got mixed signals as the market sold bonds for fear of higher inflation pressure, whilst buying interest bearing securities the next moment to get protection from weak stock markets. After relatively high volatility the month ended with quite modest interest rate movements where US rates ended up slightly higher and European rates slightly lower and credit rates widened. Italian bond rates sold off the most during the month as the EU sent back Italian budget proposal
Both Excalibur and Trude handled the intramonth volatility well, but a steeper yield curve in the US and higher credit spreads gave negative contribution. Excalibur returned +0,04% in October and Trude returned -0,39%. Log in with your password and read the entire monthly reports for Excalibur and Trude with market comments, numbers and thoughts ahead.