Weekend Update 6/26/2022

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

Market recovers as bearish recession sentiment tides recede

πŸ€—  Relief rally. Market sentiment shifting off from last two week’s panic. High #RecessionWatch odds now likely priced in with new investor optimism hoping for less impact and shorter duration if #InflationFears can ease up. S&P 500 recovers +6% this week.

🏦  Stressing stress tests. All reviewed banks passed Fed’s annual stress tests, but revealed potential for larger losses in worst case scenario this year vs. last. Meanwhile, Fed Chair Powell reiterating primary #InflationFears focus with #RecessionWatch not intentional, but a potential consequence. 10-year treasury yield has pulled back -9% from mid-June high last week.

πŸ›’  Gas tax holiday? Crude oil prices continues slide now down -13% from mid-June high. More relief may be on the way with President Biden calling for a gas tax holiday. A very visible cost-of-living bump headlining #InflationFears-investors remain concerned of impact dampening #RevengeTravel and driving #ConsumerNoConfidence.

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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.