KKR

Underperforming without a clear catalyst yet

• KKR −1.04% on the last session vs SPY +0.74%: −1.8 pts of stock-specific move.
• Aftermath, rsi oversold (Oct 2): After its 10 oversold readings in the past 5 years, KKR typically gained 2.3% over the next day (median) and was higher 80% of the time; half the outcomes fell between +0.2% and +3.5%. An ordinary day: +0.1%. Among S&P 500 stocks after oversold readings, that ranks #50 of 496.
• Market backdrop (Fri): Average Hourly Earnings m/m 0.1% vs 0.3% expected (cooler); Non-Farm Employment Change 29K vs 89K expected (weaker); S&P futures +0.41%, 10-year yield -5bp in the 30 minutes after.