Weekend Update 4/24/2022
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
New rate hike forecasts expecting 75 bps in May
💸 Hiked expectations. Fed commentary setting table for aggressive #RisingYields likely erring on too hawkish to combat unabating #InflationFears. New forecasts projecting 75bps hike (0.75%). Markets freefall on Friday over potentially very hawkish incoming rate environment.
😬 Recession concerns. Surprisingly light earnings week as investors continue to turn attention towards #RecessionWatch. 10-year treasury yields continue to climb up +3% to new YTD high. Market risk appetite continues to pullback with Growth down -4% vs. Value down -2%. Overall S&P 500 down -3% for week.
📺 Net-flop. End of an era with Netflix reporting declining subscribers in Q1 blamed on competition, saturated markets, macro uncertainty and unpaid password sharing. Bloodbath on Thursday with shares down -35% and tanking #StreamingWars rivals. Bearish read thru extended to other #COVID19 restriction beneficiaries.
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As of the publish date, Ursa portfolios do not own NFLX. While not in the near-term, NFLX may become portfolio holdings at some point in the future. Any mention of these securities is for purely informational purposes only and NOT investment advice.
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.