The Mosaic Global Fund had a 1.23% return for the month of Feb.
Stocks particularly in the US markets continued to be strong during February. The tech heavy Nasdaq continued to outperform and climbed over 4% for the month. The other large US indices also outperformed their European peers.
Interesting to notice is that TIP, the inflation linked bond market, has continued its strong recovery after a big selloff following the US election. It seems like the market is anticipating that current policy could generate a long sought after increase in inflation. Potentially supporting the anticipation of increased inflation is that Gold, seen as a typical inflation hedge, has also performed strongly during the month rising over 3.5%.
Commodities has been as an aggregate, ETF DBC, flat for the month. We have seen pressure in Cocoa and Coffee, seems like a great fit for the spring with lower prices on both your coffee and the chocolate piece that naturally comes with it. Natural gas prices continued to be very weak during the month with meteorologist’s anticipating the winter to be over in the US already. In the currency markets the USD continued to be strong against mostly all the larger currencies including the EUR. While the EUR has recovered somewhat it seems like the continued strong economic US activity together with the potential for more interest rates hikes is keeping the USD strong.
The Mosaic Global Fund posted a positive return for the month with our main gains coming from the strong US stock markets, particularly Nasdaq. We also made money in European stocks as well as Asian stocks. Minor gains were had in bonds. We made smaller losses in our commodity holdings.
Please reach out to us on this email firstname.lastname@example.org, or give us a call on +352 202 033 27, to find out more about the Mosaic Global Fund and how the Fund is managed with our Trend and Momentum Filters. We look forward to speaking with you soon.
To Your Investment Success!
Per-Olov Jansson & the Cardea Investment Team