🔴 Pershing Square is trading 4.07% down today amid hotter-than-expected inflation and rising Treasury yields

Pershing Square is trading 4.07% lower at $45.71 amid broad market weakness, with hotter-than-expected inflation and rising Treasury yields.

• The S&P 500 is down 1.03%, and the Nasdaq Composite is down 1.57%.
• On October 13, BofA cut Pershing Square to Underperform from Neutral and lowered its target to $38 from $54, citing underperformance and a delayed Pershing Square Ventures launch. Broad market weakness is the clearest context for the October 14 move.