Summary

• Vanguard Europe ETF (VGK) remains a buy, supported by attractive valuation, stable EURUSD, and robust sector positioning.
• VGK trades at 14.35x P/E with a 2.77% yield, offering a compelling equity risk premium versus the S&P 500.
• Technical setup is bullish: ascending triangle targets $95, with strong support at $86.50 and $77-$78.
• European Financials and Industrials are poised to lead VGK higher, with seasonality and geopolitical developments as key catalysts.

The oil market seems to believe a lasting peace deal between the US and Iran is finally in the works. Brent crude oil settled at its lowest level in three months last week, while global stocks were

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