Monthly Comments

During the first summer month, the markets have developed somewhat differently: in the US, new highs have been reached, driven by the large tech companies, while Sweden has seen a negative trend. The market has...

In May, global stock markets rose on hopes of continued declining inflation, falling interest rates, and avoiding a deep and prolonged recession. Economic data, including GDP figures, confirmed the...

During the month of April, geopolitical tensions increased further with Iran's attack on targets in Israel. However, the attack was expected, and an escalation was avoided as both sides toned down the situation...

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.