Tag Archives: 10-year Treasury
Equity Exuberance and Fixed Income Foreshadowing
In the immediate aftermath of the 2024 presidential election, U.S. equities soared on Wednesday, November 6, with the S&P 500® up 3%, while small caps surged even higher, with the S&P SmallCap 600® up a substantial 6%. Subsequently, on Thursday, November 7, the much-anticipated Fed rate cut of 25 bps came to fruition. With two…
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Considering REIT Lease Durations in a Rising Rate Environment
U.S. REITS have been lagging broad U.S. equities. During the recent climb in 10-year Treasury yields from the 2018 low of 2.41% on January 2, to as high as 2.94% on February 21, the Dow Jones U.S. Select REIT Index declined 11.2%. Though we have found that REITS have generally fared well over full cycles…
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As Volatility Returns to Equities, Corporate Bond Spreads Tighten Near Record Lows
Broad-based equity markets have been on a rollercoaster ride since Jan. 30, 2018, as market participants appear to be reassessing the impact of inflation and potential consequences from the recent tax reform. While volatility appears to be back, high-grade corporate bond spreads have tightened to levels not seen since 2007. Compared with the last episode…
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