General Overview The strength demonstrated by financial markets during the third quarter of the year—and continuing as of the date of this report—seems to contrast sharply with the international context. The tensions between Palestinians and Israelis have escalated into a full-scale war involving Lebanon and Iran, with the latter launching rockets toward Israel. The approach of the U.S. elections, which saw a shift in the Democratic camp between July and August from the incum

General Overview Accustomed to the chaos of recent years, the second quarter of the year passed without too many jolts, except for those related to the political world, such as the results of the European elections and the prospect of the upcoming American elections in November. On the one hand, the possibility of political instability following the European elections in France generated some fears and caused the markets to fluctuate for a few days; on the other hand, the fir

General Overview The macroeconomic picture in the first quarter of 2024 remained almost unchanged compared to the end of 2023. Major global conflicts continue without signs of slowing down, while inflation rates have maintained the trend from late 2023, marking a stabilization at levels still far from the ideal 2%. Economies thus demonstrate significant resistance to interest rate hikes, prompting central banks to postpone their downward adjustments. Some Numbers In Italy, th