Weekend Update 6/4/2023

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

Markets extend rally after May jobs reports comes in “just right”…

🙌 Deal ceiling raised. A debt ceiling agreement was made over the Memorial Day holiday weekend and ultimately passed midweek. It ends weeks of political drama and some market turbulence despite expectations that a deal would eventually get done.

💼 Balanced jobs report. The US added 339K jobs in May over the 190K expected, but unemployment also increased to 3.7%. Markets seeing a good balance between softening employment and still healthy #LaborMarkets.

🏦 Back to the Fed. With the debt ceiling drama wrapped up, markets returning focus back to the Fed and expectations for a pause to #RisingYields in June. Some mixed commentary from Fed officials, but odds still in favor of a pause.

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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.