Monthly Comments

The strong development continued during the month of March as the world’s stock markets priced in future interest rate cuts and an economy heading for a soft landing. Inflation figures, which have slightly risen in the US, continued to fall in the Eurozone...

Please see our Annual Letter for 2023

After last year's strong finish, driven by expectations of continued falling inflation, interest rate cuts, and a robust economy, the new year began with declining stock markets. However, the American S&P 500, Nasdaq, and the...

The strong stock market performance we saw in November continued into December, resulting in a positive year-end for most of the world’s major stock markets. The Stockholm SAX index, which showed negative year-to-date performance as late as the end of October...

The negative market movements we observed during September and October shifted to a significantly more positive sentiment in November. Falling interest rates and declining inflation figures raised...

The negative sentiment from September continued into October. Geopolitical uncertainty increased further due to the events in Israel and Palestine, and the risk of more states getting involved created additional concern.

During September, the major stock markets worldwide declined while interest rates continued to rise. Relatively strong economic figures and macro statistics can explain the increasing interest rate environment, making fixed-income...

Under the month of August, market volatility increased while the major stock indices declined. The Stockholm Stock Exchange’s broad index, SAX, was one of the larger losers and was down nearly 4%. This means that...

During July, focus has mainly been on companies' reports for the second quarter. Generally speaking, the reports have been good. The Swedish banking sector showed both good profitability and...