Weekend Update 9/26/2021
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
China property giant takes down global markets 🇨🇳📉
🇨🇳 China financial crisis. Chinese property giant Evergrande remains on brink of bankrupcy. TLDR timeline: Markets 📉 Mon → 📈 Tues on payment assurances → 📈 rest of week despite indications obligations not met on Thu. Dubbed Lehman 2.0, we’re monitoring closely as China looks to stabilize situation.
🏦 Fed turning hawkish. Fed signaled purchase tapering soon though vague on timing. Accelerating rate increases as well potentially next year. While still conservative, Fed’s more hawkish moves boost yields with 10-year treasury yield up +9% following commentary.
✈️ Travel Time. Global #COVID19 cases receding driving resurgence for #RevengeTravel momentum and Aerospace outlook. Expedia CEO highlighted strong travel market tailwinds post-pandemic at investor conference Fri.
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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.