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😅 Omicron fears abating. Positive developments on the #COVID19 Omicron front has the market running. Cases so far seem mild with high transmissibility and Pfizer believes its 3-shot regimen (2 initial + 1 booster) protects against Omicron. 🙄 CPI up only 6.8%… Nov 12-month CPI grew 6.8%－a 40-year high. However, markets actually cheered the news with CPI coming in below #InflationFears estimate of Read More
😬 Omicron anxiety. Big market movements all week with small bits of #COVID19 Omicron news trickling out. Investors remain super anxious with #COVIDRecovery uncertainty from new variant. S&P 500 ends down -1% for week. 💸 Transient no more? Powell is retiring describing inflation as ‘transient’ and considering accelerating asset tapering timeline. Quick tone change from just a couple weeks ago signaling #InflationFears risk Read More
Market Musings 12/2/2021 Quick thoughts on the markets and major portfolio news. Not on Ursa yet? Download Ursa from the App Store! Market rollercoaster since Omicron news broke Black Friday. We’re closely monitoring severity of symptoms, transmissibility and potential vaccine immunity for signal on #COVIDRecovery. It was a different Black Friday than we were expecting. Read More
🦠 Omicron variant fears. New #COVID19 variant Omicron surging in South Africa has countries globally restricting travel again. Still a lot unknown about the new variant, but rampant speculation and thinly traded Black Friday sent markets nose-diving. S&P 500 fell over -2%. #COVIDRecovery names hit hard, but #RevengeTravel including hotels and airlines decimated. 🏦 Powell renominated. Overshadowed by Omicron, Biden renominated Fed Chair Read More
🛍 Strong retail spending. Retail #earnings were strong highlighting #COVIDRecovery consumer demand remains intact despite #InflationFears. However, #SupplyScare issues remain heading into Q4. Consumer up +4% for week. 🦠 4th Wave? #COVID19 resurgence in Europe as rising case has Austria mandating 20-day lockdown and Germany not ruling out potential lockdown either. Even cases troughed weeks ago and rising again. Volatile market as #COVIDRecovery keeps starting and stopping. ️💸 Read More
📈 Surging inflation. #InflationFears in high gear with Oct 12-month CPI rising 6.2%－3x higher than 2% annual target. Investors concerned Fed moving too slow with stubborn ‘transient’ expectations. 10-year treasury yield rebounds up +9% after pullback from conservative Fed action. 📉 Consumer sentiment falling. #InflationFears spilling onto Mainstreet. Michigan’s consumer sentiment gauge dropped to 10-year low driven by surging Read More
🦥 Cautious Fed. As expected, Fed starting to taper asset purchases by $15B/month. However, Fed remains steadfast in transient #InflationFears expectations tempering rate hike forecast. 10-year treasury yield fell -7% during the week with Financials 🏦 lower with it. ✈️ Travel time. #RevengeTravel got a shot in the arm with more positive #COVID19 pill data. Compounds strong #earnings as travel restrictions ease globally. All 👀 on Read More
Market Musings 11/3/2021 Quick thoughts on the markets and major portfolio news. Not on Ursa yet? Download Ursa from the App Store! We expect supply chain improvement starting early next year, but unfortunately, #SupplyScare is likely peaking in the all-important Q4 holiday season. It was a recurring theme this #earnings season. Company after company reported Read More
Market Musings 10/6/2021 Quick thoughts on the markets and major portfolio news. Not on Ursa yet? Download Ursa from the App Store! Conservative Fed playing catch up to surging inflation data. We expect more volatility as incoming Fed action gets concrete timeline. High growth likely impacted; portfolios positioned for more #Flight2Safety. Markets have been incredibly Read More
📉 September pullback. S&P 500 finished September down -5%－first red month after 7 consecutive green ones. Macro uncertainty drove market correction off all-time highs as investors faced #InflationFears, #RisingYields and #ChinaTension. 💸 Yields keep rising. 10-year treasury yields rose another +5% extending last week gains. #InflationFears in focus on energy pricing surging and supply chain woes. Strong #Flight2Safety rotation with Growth down over -3% for Read More