Fed Eyes 75 • Double-Digit PPI • REIT Dividend Hike

June 14, 2022 | Hoya Capital

Fed Eyes 75 • Double-Digit PPI • REIT Dividend Hike Real Estate Daily Recap Jun 14 Written By U.S. equity markets remained under pressure Tuesday while benchmark interest rates continued to plow higher ahead of the FOMC interest rate decision as investors brace for a 75 basis-point hike. Following its worst day since March 2020 and pushing the major benchmarks deeper into correction territory, the S&P 500 declined another 0.4% today, but the tech-heavy Nasdaq 100 gained 0.2%.

The Equity REIT Index declined 0.8% today with 10-of-18 property sectors in negative-territory. After the close, Realty Income hiked its monthly dividend for the second-time this year. Benchmark interest rates continued their surge today as market-implied probabilities of a 75 basis point Fed rate hike - which was below 4% at this time last week - surged to above 95% today. Inflation Stays Red-Hot: The Bureau of Labor Statistics reported this morning that Producer Prices soared at an 10.8% annual rate in May - slightly cooler than consensus estimates - but still notching the third-highest annual inflation rate on record.

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U.S. equity markets remained under pressure Tuesday while benchmark interest rates continued to plow higher ahead of the FOMC interest rate decision as investors brace for a 75 basis point rate hike. Following its worst day since March 2020 and pushing the major benchmarks deeper into correction territory, the S&P 500 declined another 0.4% today, but the tech-heavy Nasdaq 100 gained 0.2% following ...