Weekend Update 6/27/2021
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Financials rebounding from last week’s bloodbath
💪 Strong green week. Driven by Financials, S&P 500 surged +3% with all sectors rising. Every day was green except Wednesday from Yellen’s debt limit commentary Wednesday reversing gains in power hour.
️🏦 Financial recovery. Recovering from last week’s bloodbath, Financials rallied strong up +5%. 10-year treasury yields rebounded as well up +6%. Plus, banks were boosted further passing Fed stress tests allowing for capital returns to resume in July.
️🏗 Bipartisan infrastructure. White House and bipartisan group of senators agreed on #BuildBackBetter infrastructure plan. Still a ways to go through House and Senate negotiations, but Industrials up +3%.
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The statements, opinions and analyses presented here are provided as general information. This article is the opinion of the author. Anything within this article should NOT be considered an investment recommendation or advice. See Ursa’s full disclosures here.