Mark Eden
Afternoon all. * Return June: +2.19% * Return YTD: +17.79% * Return 2Y: +127.47% WEEK IN REVIEW A solid week for markets, $SPY (SPDR S&P 500 ETF) +1.65%, with most sectors managing to close in the green. Expectations of progress on the US-China deal helped push markets higher a long with several central banks cutting interest rates. Looking at our 4 main porfolio themes, they also mostly enjoyed some progress. $BTC (Bitcoin) (via IBIT) -0.34%. Bitcoin and crypto did not have a great week, Bitcoin flat but many of the altcoin sector were actually down 2-3% on the week. They seem to be struggling when bond yields are rising and this was one such week. There may also be some hangover from recent conference events. $SOXX (iShares Semiconductor ETF ) +6.05%. Semi's and AI continue to be very reactive to changes in trade war and growth sentiment. The positive expectations of China progress definitely boosted them this week and we saw gains in the ETF and also the individual stock positions we own. I did take profit on SMCI to close out that position as competition in the server space is hotting up and I think margin pressure will increase. $MCHI (iShares MSCI China ETF) +3.98%. China/EM also benefited from the improved trade talks sentiment and have just about recovered from the selling in the 2nd half of May. Hopefully we'll see continued progress here as there is a lot of space for further upside if sentiment can remain positive. $SCHD (Schwab US Dividend Equity ETF) +1.41%. Dividend/Income has a lacklustre week and this is main because treasury yields are up on the week. The 10Y closing at 4.508% compared to 4.398% in the prior week. I don't think we're going to see much progress here until we see the FED take action on rates or if some positive action is taken with regard to the US debt situation. I'm happy for them to act with less volatility and help dampen the wilder moves we normally see in crypto and the chips stocks. A productive week and I look forward to seeing what next week brings. Thanks for your time.