Weekend Update 10/17/2021
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Bank earnings highlight #COVIDRecovery confidence 💪🏦
💸 Yields stabilizing. #RisingYields breaks 3-week streak with 10-year treasury yield ending week down -2%. Yields peaked Mon, dropped -6% by Thur and rebounded +4% Fri. The culprit flattening yield curves as investors worry Fed underestimating #InflationFears and will need to accelerate rate hikes.
💻 Growth rebound. S&P 500 finished up almost +2% with high-growth Tech leading the way up +3%. Since Sept, #RisingYields had Growth underperforming #Flight2Safety Value names by -3%. Growth rebounded on stabilizing yields this week.
🏦 Banks see economic recovery. Financials kicked off #earnings season－investment banking and equities continues to be strong, but lots of profit beats on lower credit reserve. Banks signaling #COVIDRecovery confidence with lower expectations for defaults on debt and loans.
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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.