Weekend Update 3/12/2023

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

Market fear surging on Silicon Valley Bank failureโ€ฆ

๐Ÿฆ…  Hawkish Powell. Powell raised #RisingYields expectations at his semiannual Senate Banking Committee hearing. While hikes slowed to 25bps last month, market expectations increased for reaccelerating pace back to 50bps this month.

๐Ÿ’ช  Jobs still strong. While unemployment slightly increased, 311K new jobs were created in February. #LaborMarkets are still very strong and bolstering the case to reaccelerate rate hike pace.

๐Ÿฆ  SVB collapse. Silicon Valley Bank (SVB) failed on Friday after failing to raise equity earlier in the week. Widespread financial sector concern especially for other smaller regional banks. Financials fell -9% last week leading the overall S&P 500 down -5%.

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As of the publish date, Ursa portfolios do not own SIVB with no plans to open any positions in the next 5 days. 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 Ursaโ€™s full disclosures here.