Gaetano Bonfiglio @GaetanoBonfiglio: "𝐖𝐄𝐄𝐊𝐋𝐘 𝐎𝐔𝐓𝐋𝐎𝐎𝐊 Dear followers and investors, 𝐌𝐚𝐫𝐤𝐞𝐭..."

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𝐖𝐄𝐄𝐊𝐋𝐘 𝐎𝐔𝐓𝐋𝐎𝐎𝐊 Dear followers and investors, 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐧𝐭𝐞𝐱𝐭 We enter this new week facing a complex and polarized macroeconomic environment. Our models indicate the persistence of a dominant economic regime characterized by Stagflation in the United States and Canada, while Europe displays steady signs of Reflation. Despite these structural pressures, global market sentiment remains in a dynamic 𝑅𝑖𝑠𝑘 𝑂𝑛 phase, supported by a positioning that reveals a prevalence of buy signals over sell signals. In this environment, I maintain an active and rotational management approach to capture liquidity flows while mitigating systemic risks. 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐂𝐚𝐥𝐞𝐧𝐝𝐚𝐫 𝐨𝐟 𝐭𝐡𝐞 𝐖𝐞𝐞𝐤 (𝐉𝐮𝐥𝐲 𝟔 - 𝟏𝟐, 𝟐𝟎𝟐𝟔) Here are the 5 key macroeconomic events I will be watching closely due to their potential to spark market volatility: • 𝐌𝐨𝐧𝐝𝐚𝐲, 𝐉𝐮𝐥𝐲 𝟔, 𝟏𝟓:𝟒𝟓 – 𝐔𝐒: 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐏𝐌𝐈 (𝐉𝐮𝐧) Measures the health of the US service sector; a higher-than-expected reading (forecast 51.3) would support the resilient growth narrative. • 𝐌𝐨𝐧𝐝𝐚𝐲, 𝐉𝐮𝐥𝐲 𝟔, 𝟏𝟔:𝟎𝟎 – 𝐔𝐒: 𝐈𝐒𝐌 𝐍𝐨𝐧-𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐏𝐌𝐈 (𝐉𝐮𝐧) A leading indicator of economic health in services. A solid print (forecast 54.2) will confirm strong consumer demand, impacting growth stocks. • 𝐖𝐞𝐝𝐧𝐞𝐬𝐝𝐚𝐲, 𝐉𝐮𝐥𝐲 𝟖, 𝟎𝟒:𝟎𝟎 – 𝐍𝐙: 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐑𝐚𝐭𝐞 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧 The New Zealand central bank will decide on monetary policy (expected rise to 2.50%), serving as a pivotal event for currency and global sentiment. • 𝐖𝐞𝐝𝐧𝐞𝐬𝐝𝐚𝐲, 𝐉𝐮𝐥𝐲 𝟖, 𝟐𝟎:𝟎𝟎 – 𝐔𝐒: 𝐅𝐎𝐌𝐂 𝐌𝐞𝐞𝐭𝐢𝐧𝐠 𝐌𝐢𝐧𝐮𝐭𝐞𝐬 Provides crucial insights into the Fed's future interest rate path, directly influencing bond yields and speculative long-duration assets. • 𝐅𝐫𝐢𝐝𝐚𝐲, 𝐉𝐮𝐥𝐲 𝟏𝟎, 𝟎𝟖:𝟎𝟎 – 𝐃𝐄: 𝐆𝐞𝐫𝐦𝐚𝐧 𝐂𝐏𝐈 (𝐌𝐨𝐧𝐭𝐡𝐥𝐲) (𝐉𝐮𝐧) Measures inflation in Europe's largest economy. A reading in line with or below -0.3% would ease monetary tightening pressure on the ECB. 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐈𝐦𝐩𝐚𝐜𝐭 The upcoming macro data will directly influence our current allocation. The publication of the ISM indices and FOMC minutes will drive volatility across our high-growth technology and semiconductor holdings, such as $AMD (Advanced Micro Devices Inc) , $CRWD (Crowdstrike Holdings) , and $MRVL (Marvell Technology Group Ltd) . Any hawkish stance from the Fed could pressure the tech sector, but we are strongly hedged through our largest holding, the Invesco Physical $GOLD ETC (8PSG.DE), alongside fixed-income components (IS04.DE, IUST.DE) tailored to outperform under stagflation. I am also monitoring $BTC and resilient regional exposures (EWT, FLXI.DE) for tactical rebalancing. Best, Gae (@GaetanoBonfiglio)

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