After strong June, both portfolios have taken a bit of a breather in July. However, the S&P 500 and Nasdaq 100 continued to power on, rising 2.8% and 3.6% respectively, thanks mainly to Alphabet (GOOG), Meta (META) and Nvidia (NVDA). Source: Finviz As expected, the Fed raised interest rates by 25 bps and signalled that they remain open to more rate hikes if necessary but will remain data-dependant. There’s no FOMC in Aug, and the next one is in Sep, where the market is currently expecting 85% chance of no rate change. Although expected, markets still cheered the decision, in conjunction with cooling inflation prints. Moving over to China, the regulators have been sending the clearest signals yet that the tech crackdown is well and truly over. It seems that the Chinese authorities are finally satisfied with the changes Big Tech have made, and have started to lean...