Weekend Update 10/2/2022

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

Markets finish September bloodbath down -9%

🩸  September bloodbath. S&P 500 finishes September down -9% and -17% lower from mid-August bear rally peak. Unyielding elevated #InflationFears driving hawkish Fed #RisingYields leads to deepening #RecessionWatch forecasts.

🇬🇧  Bank of England QE. Fixing a self-inflicted wound, Bank of England buying unlimited long-dated bonds to stabilize its markets. US markets briefly ticked up on hopes Fed may quickly reverse #RisingYields policy too if incoming recession cuts too deep.

🤔  Good news is bad news. Unemployment claims fell 16K as labor market remains hot. Other data points show new home sales topping expectations and consumer confidence continued to grow since April low. Economy stubbornly remains strong unfortunately likely adds fuel to #RisingYields.

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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.