Weekend Update 8/29/2021

Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!

Flattening COVID cases has investor optimism up 😃

😅 Decelerating COVID. Domestic #COVID19 delta surge seems to be flattening. Investor optimism rising as fears of further restrictions or lockdowns hampering #COVIDRecovery ease. Hopes bolstered with FDA approving Pfizer vaccine as well.

💸 Powell backs EOY tapering. Fed Chair Powell supports tapering Fed purchases this year. Given all-time market highs, investors expected Fed support pullback, but were encouraged as Powell continues tempered approach still viewing spiking inflation as interim.

️🏦 Financials on the move. 10-year treasury yield jumped as much as +9% intraweek but ended up +4% for the week. Markets buoyed by #COVIDRecovery hopes and tempered Fed action with Financials significantly outperforming up +3.5%. Overall S&P 500 up +1.5%.

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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.