Weekend Update 8/13/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Mixed week as markets digest potential bank rating cuts, slowing inflation and more China tension…
🏦 Credit crunch. Fresh off last week’s US debt downgrade, Moody’s warned it could cut credit ratings for 6 large US banks. Banks took a hit early week with some #BankingCrisis fears reigniting.
💸 Slowing inflation progress. July CPI was in-line with expectations while July PPI came in slightly higher. Markets were fairly mixed towards the end of the week as the remaining inflation will likely be tough with stickier core inflation and harder comps.
🇨🇳 China investment restrictions. President Biden signed an executive order to restrict US investments in China related to semiconductors, quantum info tech and #AI. It’s a further escalation of #ChinaTension. We’ll see how China responds.
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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.