Weekend Update 11/12/2023

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


Market continues to rise on dovish expectations despite hawkish Fed commentary


πŸ¦… Hawkish Fed. Speaking at an IMF conference, Powell reiterated the Fed was ‘not confident’ #RisingYields were restrictive enough. While his remarks weren’t much different from a week ago, markets have been rallying MTD on the assumption #RisingYields are over.

πŸ•Š Dovish Market. The November dove rally continues as markets largely ignored Powell’s hawkish commentary. Investors believe the end of #RisingYields is here. The S&P 500 ends the week up +1.3% and up +5.3% MTD.

πŸ›οΈ Weakening consumer? Consumer sentiment fell more than expected in the last survey. Meanwhile, credit card debt swelled to a record $1.08T in Q3 with rates surging on #RisingYields. Will we finally see #ConsumerNoConfidence hit or will the spending strength hold?


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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.