{"id":80003,"date":"2025-04-01T12:39:06","date_gmt":"2025-04-01T10:39:06","guid":{"rendered":"https:\/\/www.k-s.lu\/?p=80003"},"modified":"2025-04-04T12:42:25","modified_gmt":"2025-04-04T10:42:25","slug":"monthly-comment-march-2025-2","status":"publish","type":"post","link":"https:\/\/www.k-s.lu\/sv\/monthly-comments\/2025\/04\/01\/monthly-comment-march-2025-2\/","title":{"rendered":"M\u00e5nadskommentar - mars 2025"},"content":{"rendered":"<p>2025 inleddes med optimism \u2013 sjunkande inflation, s\u00e4nkta r\u00e4ntor och en konjunktur som sp\u00e5ddes v\u00e4xa under \u00e5ret bidrog till en stark start. Under februari och mars har l\u00e4get sedermera f\u00f6r\u00e4ndrats. Tecken p\u00e5 svagare konjunktur och stigande inflation har ist\u00e4llet \u00f6kat risken f\u00f6r stagflation. Det, i kombination med Trumps m\u00e5nga utspel, ober\u00e4knelighet och tullar, har gjort att de finansiella marknaderna har sv\u00e5rt att bed\u00f6ma och priss\u00e4tta risk. Den os\u00e4kerheten skapar stora r\u00f6relser n\u00e4r investerare flyr mot s\u00e4krare tillg\u00e5ngar. Under m\u00e5naden utraderades hela Stockholmb\u00f6rsens uppg\u00e5ng och v\u00e4rldsindex f\u00f6ll n\u00e4rmare 11 % i svenska kronor r\u00e4knat. Den svenska kronan st\u00e4rktes runt 7 % mot USD under mars och drygt 10 % under 2025. Under m\u00e5naden lanserade Tyskland ett stort stimulanspaket p\u00e5 500 miljarder euro, som f\u00f6rv\u00e4ntas ge tillv\u00e4xt men kan ocks\u00e5 pressa upp r\u00e4ntor. I Sverige satsar regeringen stort p\u00e5 f\u00f6rsvaret, finansierat genom uppl\u00e5ning. ECB s\u00e4nkte styrr\u00e4ntan till 2,50 %, medan Fed och Riksbanken l\u00e4mnade sina r\u00e4ntor of\u00f6r\u00e4ndrade. Fr\u00e5n K&amp;S del \u00e4r vi f\u00f6rsiktiga med att g\u00f6ra f\u00f6r stora f\u00f6r\u00e4ndringar i nul\u00e4get. Vi ser som alltid \u00f6ver v\u00e5r strategi och hur v\u00e5ra innehav p\u00e5verkas av r\u00e5dande situation men anser inte att det \u00e4r r\u00e4tt strategi att g\u00e5 ur marknaden \u00e4ven om f\u00f6r\u00e4ndringar kan bli aktuella. Trump \u00e4r en f\u00f6rhandlare och l\u00e4get kan vara ett helt annat imorgon. De nedg\u00e5ngar vi sett inom exempelvis tech och AI ser vi snarare som k\u00f6pl\u00e4gen \u2013 m\u00e5nga av bolagen forts\u00e4tter att v\u00e4xa i snabb takt, \u00e4r oerh\u00f6rt l\u00f6nsamma och bara i b\u00f6rjan av sin resa samtidigt som v\u00e4rderingarna kommit ner kraftigt.<\/p>\n<p><a href=\"https:\/\/www.k-s.lu\/wp-content\/uploads\/2025\/04\/Manadskommentar-mars-2025-1.pdf\">M\u00e5nadskommentar mars 2025<\/a><\/p>\n<p><a href=\"https:\/\/www.k-s.lu\/wp-content\/uploads\/2025\/04\/Monthly-Comment-March-2025-1.pdf\">Monthly Comment March 2025<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>2025 began with optimism \u2013 falling inflation, interest rate cuts, and a forecasted economic upswing contributed to a strong start. However, the situation shifted during February and March. Signs of a weakening economy combined with rising inflation have instead increased the risk of&#8230;<\/p>","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-80003","post","type-post","status-publish","format-standard","hentry","category-monthly-comments"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Monthly Comment - March 2025 | Kuylenstierna &amp; Skog S.A<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.k-s.lu\/sv\/monthly-comments\/2025\/04\/01\/monthly-comment-march-2025-2\/\" \/>\n<meta property=\"og:locale\" content=\"sv_SE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monthly Comment - March 2025 | Kuylenstierna &amp; Skog S.A\" \/>\n<meta property=\"og:description\" content=\"2025 began with optimism \u2013 falling inflation, interest rate cuts, and a forecasted economic upswing contributed to a strong start. 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