Weekend Update 9/24/2023

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

Markets recalibrating expectations after Fed’s hawkish pause

💸 Higher for longer. At the September meeting, the Fed held rates flat as expected. However, it was a hawkish pause with longer-term forecasts indicating another rate hike expected this year and for #RisingYields to last longer.

️📈 Bond surge. 10-year treasury yields popped +3% after the hawkish Fed commentary. Big moves for the bond markets as higher #RisingYields expectations settling in for the long-term.

📉 Recalibrating expectations. Three consecutive red market days following the Fed meeting. Powell had poured cold water on #Goldilocks optimism warning that a soft landing was possible, but should not be the expected baseline outcome. The S&P 500 fell -3% for the week as investors readjusted expectations.

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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.