From Seekingalpha · Hoya Capital · · 1m 10s
Reits Hit Rate Wall
REITs fall for seventh week as rate volatility surges.
In brief
REITs fall for seventh week as rate volatility surges. REITs dropped for a seventh straight week, their longest losing streak on record, amid surging rate volatility. Originally reported by Seekingalpha.
U.S. equity markets mixed
U.S. equity markets were mixed this past week as softer jobs data and cooler-than-expected inflation eased near-term Fed tightening fears.
September jobs growth weak
The critical BLS payrolls report showed September job growth of 29k - well short of expectations.
Wage growth slowed
wage growth slowed to its weakest pace since 2021.
Core PCE inflation down
core pce - the fed's preferred inflation gauge - also surprised to the downside, helped in part by benchmark and methodology revisions that lowered previously reported inflation.
REITs longest losing streak
reits fell for a seventh straight week, their longest losing streak on record.
Mortgage REITs worst week
mortgage reits suffered their worst week in three years amid surging rate volatility.
REITs M&A activity
reits remained active on the m&a-front this week, led by brixmor’s $2.3b slate grocery deal, continued healthcare reit expansion into senior housing, and a handful of deals across the retail, hotel, and residential sectors.
In short
REITs dropped for a seventh straight week, their longest losing streak on record, amid surging rate volatility.
