Weekend Update 12/5/2021
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Volatile market week with all 👀 on Omicron 🦠
😬 Omicron anxiety. Big market movements all week with small bits of #COVID19 Omicron news trickling out. Investors remain super anxious with #COVIDRecovery uncertainty from new variant. S&P 500 ends down -1% for week.
💸 Transient no more? Powell is retiring describing inflation as ‘transient’ and considering accelerating asset tapering timeline. Quick tone change from just a couple weeks ago signaling #InflationFears risk likely increasing. However, 10-year treasury yields still tumbled -9% on #COVID19 Omicron concerns.
🛍 Consumer Spending High. Despite #InflationFears and #COVID19 Omicron, consumer demand still appears to be strong. Initial November estimates has holiday spending up +12% Y/Y. Doesn’t look like rising prices or a pandemic will stop 🎅.
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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.