September monthly reports published
Interest rates went up in most major economies in September on the back of continued solid macro data and trade war discussions. FED raised their short rate for the third time this year and indicated that it will continue with the same hiking pattern until they reach a rate slightly higher than neutral. ECB pointed out that core inflation is going up but at the same time they are increasing focus on headline inflation. Perhaps a first hike is due by next summer. Even the Riksbank (knock on wood) changed rhetoric and more clearly signaled a first rate hike (of 0,25%) around the new year. Both Excalibur and Trude are positioned for higher interest rates and had a positive return during the month. However, Excalibur gave back som performance on the Euro yield curve flattening, and Trude lost some on a single name credit. Excalibur returned +0,13% in September and Trude returned +0,38%. Log in with your password and read the entire monthly reports for Excalibur and Trude with market comments, numbers and thoughts ahead.