Gaetano Bonfiglio @GaetanoBonfiglio: "𝐖𝐄𝐄𝐊𝐋𝐘 𝐑𝐄𝐂𝐀𝐏 Greetings to all followers..."

Italy

𝐖𝐄𝐄𝐊𝐋𝐘 𝐑𝐄𝐂𝐀𝐏 Greetings to all followers and copiers. The week just ended featured significant macroeconomic dynamics, characterized by a US holiday for Independence Day and important data releases in Europe, with equity markets experiencing mixed sessions within a cautious atmosphere. The Italian Services PMI for June came in at 50.2, slightly below the expected 50.3 but showing improvement above the previous 49.4. This stabilization signal, combined with Italian retail sales for May holding steady month-over-month (+0.2%) and growing solidly year-over-year at +2.2%, outlines a resilient domestic framework. Meanwhile, the speech by ECB President Christine Lagarde reiterated a cautious approach to interest rate management, moderately guiding the direction of European indices. 𝐈𝐌𝐏𝐀𝐂𝐓 𝐎𝐍 𝐎𝐔𝐑 𝐏𝐎𝐑𝐓𝐅𝐎𝐋𝐈𝐎 The events influenced our balanced portfolio in a mixed way. On the positive side, we highlight the solid performance of $EWT (iShares MSCI Taiwan ETF) (+15.10%), driven by the tech sector, followed by steady gains in $IS3N.DE (iShares Core MSCI EM IMI UCITS ETF) (+4.89%) and $FLXI.L (Franklin FTSE India UCITS ETF) (+2.76%). Conversely, volatility hit $BTC at -22.80% and $GOLD (8PSG.DE) at -13.24%. Consistent with our active and rotational asset management, I have executed a strategic portfolio rebalancing. This move allows us to mitigate risks, optimize allocation, and keep our balanced profile aligned with our medium-to-long-term stability goals. 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.