Business Travel Shows No Sign of a Recession

• The DJIA fell another 0.6% on Tuesday, Nasdaq was down 0.1%, the S&P 500 fell 0.5% and the 10-year treasury yield rose to 3.963%, its peak since 2010.
• Truist reported on a conference call it held with corporate travel data company Tripbam. Takeaways included that any indications of a recession have not yet shown up in business travel bookings and pricing data.
• Evercore ISI Group upped its rating on Hyatt to Outperform from In Line. Their price target is $100.

The DJIA fell another 0.6% on Tuesday, Nasdaq was down 0.1%, the S&P 500 fell 0.5% and the 10-year treasury yield rose to 3.963%, its peak since 2010. Truist reported on a conference call it held with corporate travel data company Tripbam. Takeaways included that any indications of a recession have not yet shown up in business travel bookings and pricing data. Tripbam believes 15% of […]