Crypto Crash • Industrial REIT Merger • Fed Ahead

June 13, 2022 | Hoya Capital

Crypto Crash • Industrial REIT Merger • Fed Ahead Real Estate Daily Recap Jun 13 Written By U.S. equity markets plunged Monday while benchmark interest rates soared ahead of the FOMC meeting on Wednesday in which the Fed is expected to announce aggressive measures to combat persistent inflation. Closing in "bear-market" territory and on pace to extend its stretch of declines to ten of the past eleven weeks, the S&P 500 plunged nearly 4%, its worst decline since March 2020.

Real estate equities were also sharply lower today amid the surge in benchmark interest rates with the Equity REIT Index declining 5.0% today while the Mortgage REIT Index dipped over 9%. The sell-off intensified after a Wall Street Journal report Monday afternoon suggesting that the Fed is considering a 75 basis point rate hike on Wednesday amid mounting questions over whether the central bank has "lost control" over its ability to engineer a soft landing.

Together at last? Following months of pursuit, Duke Realty (DRE) was the best-performing REIT today after finally agreeing to be acquired by logistics giant Prologis (PLD) in a $26B all-stock deal expected to be immediately accretive. Income Builder Daily Recap We recently launched Hoya Capital Income Builder - a premier income-focused investment research service through Seeking Alpha Marketplace - that will be the new exclusive home of all of Hoya Capital's investment research.

Income Builder focuses on real income-producing asset classes that offer the opportunity for diversification, monthly income, capital appreciation, and inflation hedging. If you're not already on board, give us a try with a completely risk-free two-week trial and take a look around. U.S. equity markets plunged Monday while benchmark interest rates soared ahead of the FOMC meeting on Wednesday in which the Fed is expected to announce aggressive measures to combat persistent inflation.

Officially closing in "bear market" territory and on pace to extend its stretch of declines to ten of the ...