Weekend Update 3/13/2022

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

Oil surges on new sanctions, but moderates on potential OPEC supply increase

🛢  Weaponizing oil. US adds new #UkraineCrisis sanction banning Russian oil sending crude oil prices surging. However, OPEC member UAE signaled willingness to increase supply (potentially offsetting Russia ban impact). Crude oil prices fell -12% from highs on Wed while markets cheered surging -3%.

💸  Accelerating inflation. Feb 12-month CPI grew 7.9% as #InflationFears showing no signs of moderating near-term. Feb data also wouldn’t yet show impact from #UkraineCrisis. 10-year treasury yield rebounds +16% last week almost back to pre-war high. Fed March meeting on tap this week.

️🐻  NASDAQ in bear market. First #RisingYields and now #UkraineCrisis has tech-heavy NASDAQ down into bear market territory. Growth has significantly underperformed YTD down -17% vs. Value only down -5%. More balanced S&P 500 down another -3% this week and -12% for the year.

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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.