Weekly Roundup 2019 CW 06

CW6 is to an end and its time, to sum up, the week with my weekly roundup. President Donald J. Trump delivered his second State of the Union Address on February 5th. The president touted his administration’s claimed successes. He was telling the Congress that “an economic miracle is taking place in the United States and the only things that can stop it are foolish wars, politics, or ridiculous partisan investigations.”

Here in Sweden, we saw during the week the old question about Avanza Bank “implementing” European ETF’s revitalize.

Nordnet has since a long time a broad variety of ETFS products. This is beneficial for us which for instance want to diversify into physical gold ETF’s. Sadly something seems to block Avanza that now during a year hasn’t moved forward with this matter.

Nordnet had some issues during the week with KID documents halting the trading for some days, but reacting swiftly they now are back on track. Thanks to @NordnetAxel. I use Degiro that also have this possibility. Now when I am moving my occupational pension to Nordnet makes this an important question for me.

US Market Outlook

Markets pulled back this week following a strong January as global growth fears once again took hold in the run-up to the crucial March 1 trade deadline. Also pressuring the markets is uncertainty regarding 2019 earnings growth.

Treasury yields ended the week lower while gold prices held up, mostly unchanged, as investors took some risk off the table on fears of slowing global growth. The dollar rallied versus the euro and Swedish krona as the European Commission cut its growth forecast for the Eurozone on Thursday to 1.3% in 2019, down from the prior estimate of 1.9%.

Next week, 107 companies in the S&P 500 will report earnings.

The portfolio

Gaining 1.93% is until now the second best week YTD. The calculated alpha is 5.09%. The weak Swedish krona has given the portfolio 1.08% tailwind.

Transactions

During the week I have initiated a position in Roche Holding AG (SIX:​ROG), and I have also started a position in Fidelity Funds – Switzerland Fund A-CHF. With these two transactions, I further diversify my portfolio entering Switzerland. The Health Care sector is the most significant part of the fund, and about 10% is Roche Holding AG.

Fidelity Funds - Switzerland Fund A-CHF

The depots in the portfolio


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