China Lockdowns • HASI Targeted • CPI Ahead

July 12, 2022 | Hoya Capital

China Lockdowns • HASI Targeted • CPI Ahead Real Estate Daily Recap Jul 12 Written By U.S. equity markets finished lower Tuesday in a relatively muted session, contrasting with a sharp decline in commodities prices amid mounting concerns over economic contractions in Europe and Asia. Ahead of the critical CPI inflation report on Wednesday morning, the S&P 500 retreated 0.9% today but the more domestically-oriented Mid-Cap 400 and Small-Cap 600 finished essentially flat.

Real estate equities were again among the stronger performers today as global benchmark interest rates continued to retreat. The Equity REIT Index finished lower by 0.4% today. A fresh wave of COVID lockdowns in China added to the growing concern over a "hard landing" across major economies in Europe and Asia. Commodities were under sharp pressure today with Crude Oil prices dipping 7% to below $100 per barrel. Mortgage REIT Hannon Armstrong (HASI) plunged nearly 20% today after short-selling firm Muddy Waters released a new short report titled: HASI: “ESG” is for Exaggerating, Scamming, and Grifting.

HASI responded, noting the report is "replete with factual errors and numerous inflammatory and misleading statements." Income Builder Daily Recap U.S. equity markets finished lower Tuesday in a relatively muted session, contrasting with a sharp decline in commodities prices amid mounting concerns over economic contractions in Europe and Asia. Declining for a second-straight session ahead of the critical CPI inflation report on Wednesday morning, the S&P 500 retreated 0.9% today but the more domestically-oriented Mid-Cap 400 and Small-Cap 600 finished essentially flat on the session.

Real estate equities were again among the stronger performers today as global benchmark interest rates continued to retreat. The Equity REIT Index finished lower by 0.4% today with 8 of 18 REIT sectors in positive territory while the Mortgage REIT Index slipped 0.8%. A fresh wave of COVID lockdowns in China added to the growing concern over a "hard landing" across major economies in Europe and ...