Weekend Update 11/6/2022

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


Fed extinguishes Oct yield pivot sentiment rally


🔥  October heat. Markets rebounded strongly in Oct with S&P 500 finishing up 8% for the month. Lots of anticipation building all month for potential Fed pivot language to signal the end of #RisingYields on the horizon.

💦  Fed extinguishes rally. As expected, the Fed hiked rates 75bps and signaled slowing #RisingYields rate hike in Dec may be appropriate. However, the Fed squashed the notion that lowering rates would follow shortly after. S&P 500 falls -3% to start Nov as investors continue to be too optimistic on Fed policy.

🌥  Jobs starting to cool? US gained 261K new jobs in October, but unemployment rose. Signs hot labor market still strong, but may be starting to moderate. Given all the recent #CorporateBeltTightening layoffs, we’d expect the job market to start to cool.


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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.