Gaetano Bonfiglio @GaetanoBonfiglio: "𝐖𝐄𝐄𝐊𝐋𝐘 𝐎𝐔𝐓𝐋𝐎𝐎𝐊 Hello fellow investors, 𝐌𝐚𝐫𝐤𝐞𝐭..."

Italy

𝐖𝐄𝐄𝐊𝐋𝐘 𝐎𝐔𝐓𝐋𝐎𝐎𝐊 Hello fellow investors, 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐧𝐭𝐞𝐱𝐭 We begin the week facing a global macroeconomic backdrop marked by caution and mixed signals. In the US, stagflation risks remain elevated, whereas Europe displays reflationary dynamics. Global quant sentiment both sit at a neutral level, signaling prudence. Our tactical allocation fully reflects this environment: we maintain a balanced, rotational framework, designed to protect capital and seize selective opportunities through strict management discipline. 𝟓 𝐊𝐞𝐲 𝐖𝐞𝐞𝐤𝐥𝐲 𝐄𝐯𝐞𝐧𝐭𝐬 (𝐉𝐮𝐥𝐲 𝟐𝟕 - 𝐀𝐮𝐠𝐮𝐬𝐭 𝟐, 𝟐𝟎𝟐𝟔): • Monday, July 27 – German IFO Business Climate Index (Jul): Measures German corporate sentiment; positive readings support European industrial and cyclical recovery prospects. • Wednesday, July 29 – FED Interest Rate Decision (US): Sets US monetary policy stance, directly affecting global liquidity, bond yields, and tech valuations. • Thursday, July 30 – Bank of England Interest Rate Decision (UK): Determines UK monetary trajectory, impacting equity valuations and foreign exchange dynamics. • Thursday, July 30 – US GDP (Q2): Key indicator of American growth, essential for assessing economic slowdown or persistent inflation risks. • Friday, July 31 – Bank of Japan Interest Rate Decision (JP): Crucial update on Japanese monetary policy, influencing global capital flows and carry trades. 𝐏𝐎𝐑𝐓𝐅𝐎𝐋𝐈𝐎 𝐈𝐌𝐏𝐀𝐂𝐓 The outcome of this economic calendar directly influences our portfolio structure. Central bank decisions and US GDP data will dictate the trajectory of yields, directly affecting our fixed income positions (IS04, IUST, SECA) and tech holdings ( $AMD (Advanced Micro Devices Inc) , $CRWD (Crowdstrike Holdings) , $MRVL (Marvell Technology Group Ltd) ). In Europe, the German IFO index provides vital signals for our industrial and cyclical holdings such as $PRY.MI (Prysmian Group) , $ALFA.ST (Alfa Laval AB) , and $DHER.DE (Delivery Hero SE) . Backed by our balanced setup and 20% strategic cash, the portfolio is well-positioned to absorb short-term volatility and capitalize on market mispricings. Best, Gae (@GaetanoBonfiglio)

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