Gaetano Bonfiglio @GaetanoBonfiglio: "𝐖𝐄𝐄𝐊𝐋𝐘 𝐑𝐄𝐂𝐀𝐏 Hello everyone, followers and..."

Italy

𝐖𝐄𝐄𝐊𝐋𝐘 𝐑𝐄𝐂𝐀𝐏 Hello everyone, followers and copiers, This week, global markets showed mixed performance, navigating an environment of macroeconomic anticipation. Data from the US and Europe indicates moderate but resilient economic growth, forcing market participants to carefully weigh the next central bank moves regarding interest rates. On the macroeconomic front, focus was on the US Services PMI (down to 51.2) and the ISM Non-Manufacturing index (at 54.0), confirming an expanding tertiary sector, though slightly below expectations. The FOMC Minutes and better-than-expected Initial Jobless Claims (215K) highlighted a solid labor market. In Europe, Germany's CPI at -0.3% MoM suggests cooling prices, while the Fed's Monetary Policy Report reaffirmed a cautious approach, keeping equities stable but injecting volatility into currencies and commodities. 𝐈𝐌𝐏𝐀𝐂𝐓 𝐎𝐍 𝐎𝐔𝐑 𝐏𝐎𝐑𝐓𝐅𝐎𝐋𝐈𝐎 Our active, rotational management strategy allowed us to absorb this week's volatility through careful portfolio balancing. Highlights include strong tech performances from $EWT (iShares MSCI Taiwan ETF) (+16.50%), $AMD (Advanced Micro Devices Inc) (+6.88%), and $DELL (Dell Technologies Inc C) (+2.93%), capitalising on the secular AI trend. Conversely, we felt the temporary correction in commodities and crypto, impacting our $GOLD (8PSG.DE) and $BTC allocations. This disciplined diversification protects our capital while positioning us to outperform the competition over the long term. I will continue to monitor the macroeconomic context before evaluating any gradual adjustments. Best, Gae (@GaetanoBonfiglio)

Not investment advice. The author may have financial interests in the mentioned instruments.