Weekend Update 11/19/2023
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 as inflation slows ahead of expectations
🐌 CPI slows. October CPI came in below expectations lowering Y/Y inflation to 3.2%. Meanwhile, core CPI only slightly rose 0.2% M/M also lower than expected. Markets surged on optimism that #InflationFears are over and the Fed is done with #RisingYields rate hikes.
️🏛️ Another stop gap. The US temporarily averted a shutdown again with another stopgap bill. The 2024 budget decisions will now be delayed until the new year. While likely a contentious political fight looming, the US at least will continue to run at status quo until then.
🇨🇳 Thawing tensions? President Biden met with China’s Xi at the Asia-Pacific Economic Cooperation forum last week. Potentially some thawing #ChinaTension with some agreement around resuming military and open high-level communications.
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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.