Weekend Update 4/2/2023

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

Bullish market as banking crisis and inflation fears fade

🏦   Banking concerns ease. The top 25 banks saw deposits rise $120B while 850 small banks lost $108B. While large banks are definitely benefiting from small bank runs fears from the #BankingCrisis, deposit outflows aren’t as bad as feared.

🛍   Strong retail outlook. The National Retail Federation is forecasting retail sales to grow 4% to 6% Y/Y this year. 2023’s growth outlook follows 7% growth in 2022 and above the pre-pandemic average of 4%. Seems #ConsumerNoConfidence worries are starting to ease.

🧊   Cooling inflation. New PCE data shows inflation rising +5% Y/Y in February down from 5.3% in January. More market optimism as investors eyeing end of #RisingYields with lower inflation and potentially avoiding #Recession2023.

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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.