Stewart Fitzell @defense_investor: "𝗪𝗲𝗲𝗸𝗹𝘆 𝗨𝗽𝗱𝗮𝘁𝗲: 𝗪𝗵𝗮𝘁’𝘀 𝗕𝗲𝗲𝗻 𝗛𝗮𝗽𝗽𝗲𝗻𝗶𝗻𝗴 𝗧𝗟;𝗗𝗥 We..."

Ireland

𝗪𝗲𝗲𝗸𝗹𝘆 𝗨𝗽𝗱𝗮𝘁𝗲: 𝗪𝗵𝗮𝘁’𝘀 𝗕𝗲𝗲𝗻 𝗛𝗮𝗽𝗽𝗲𝗻𝗶𝗻𝗴 𝗧𝗟;𝗗𝗥 We had another week of ups and downs, with tech stocks dropping while US inflation was lower than expected. 𝗧𝗵𝗲 𝗕𝗶𝗴𝗴𝗲𝗿 𝗣𝗶𝗰𝘁𝘂𝗿𝗲 Big tech companies such as $MSFT (Microsoft) and $AMZN (Amazon.com Inc) saw weakness as investors focused on heavy AI-related spending, which is weighing on short-term cash flow. Meanwhile, hardware suppliers such as $TSM (Taiwan Semiconductor Manufacturing Co Ltd - ADR) held up better. Remember though, without the significant capital investment from hyperscalers, demand for hardware would not be growing at its current pace. Both sides of that equation depend on each other. The U.S. bond yield curve is now steepening, meaning longer-term interest rates are higher than shorter-term rates. Historically, this reduces the probability of recession and is generally viewed as a healthier signal for the economy. January inflation came in at 2.4%, below expectations. Lower inflation can ease pressure on interest rates and potentially provide some stability to markets. In the U.S., there are reports that tariffs on steel and aluminium may be eased, which could support companies such as $CRH and $RR.L (Rolls-Royce) . 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗠𝗼𝘃𝗲𝘀 I increased my position in $JPM (JPMorgan Chase & Co) , as banks can benefit from a steepening yield curve. I also opened a small position in an ETF that tracks the Japanese stock market ( $IJPD.L (iShares MSCI Japan USD Hedged UCITS ETF Acc) ) 𝗔 𝗪𝗼𝗿𝗱 𝘁𝗼 𝗡𝗲𝘄 𝗖𝗼𝗽𝗶𝗲𝗿𝘀 We’ve had a couple of volatile months, which is never easy if you’ve recently started copying. Periods like this are part of investing. My approach remains focused on quality businesses and long-term growth and I assess we will have a positive year overall again. Have a nice weekend, Stewart ⚠️ Risk Warnings: Copy Trading does not amount to investment advice | Your capital is at risk | The value if your investments may go up or down. | Past performance is not indicative of future results.