Weekend Update 3/5/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Dovish commentary reinvigorates market rally in March
🦅 Feb Hawks. The S&P 500 pulled back in February ending down -3% as investors reassess the bullish New Year’s rally. February saw slowing #InflationFears declines and continuing strength in the #LaborMarkets leading to #RisingYields expectations increasing.
🕊 March Doves. However, dovish comments by the Atlanta Fed President supporting small 25bps #RisingYields hikes and a low 5%-5.25% target reinvigorated the rally. The S&P 500 is seeing green again with March up +2% in the first 3 days.
🎮 Deal Power-Up. Microsoft is expected to receive EU approval for its Activision acquisition. Microsoft is offering long-term game licenses to its competitors like Sony to alleviate competitive concerns. It would be a big win for the deal and potentially influence remaining deal scrutiny in the US & UK.
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As of the publish date, Ursa portfolios may own ATVI & MSFT. These securities may cease to be portfolio holdings at some point in the future. Any mention of these securities is for purely informational purposes only and NOT investment advice.
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.