NGGBF UCITS Monthly - November 2017

  • The Fund’s QDEUR hedged class rose over the month 0.14%, YTD 4.93%
  • US Treasury yield curve continued to flatten
  • Brent crude continues to rally in anticipation of production cut extension
  • The US Dollar Index (DXY) fell 1.59%

The yield curve continued to flatten over the month with the yield on the UST 30 year falling 5 bp to yield 2.83% at month end while the 10 year UST yield edged higher to 2.41%. The spread between the 2 and 30 year Treasury compressed to its lowest level since 2007 as it pushed below 1% at one point during the month.

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