Fed In Focus • Apartment Bids • Stocks Rebound

June 15, 2022 | Hoya Capital

Fed In Focus • Apartment Bids • Stocks Rebound Real Estate Daily Recap Dec 12 Written By U.S. equity markets rallied Monday- rebounding after its worst-week since mid-September- ahead of a critical week of inflation data and central bank policy decisions beginning with the CPI report tomorrow. Rebounding from declines of nearly 3.5% last week, the S&P 500 advanced 1.4% today while the Mid-Cap 400 and Small-Cap 600 each gained roughly 1%.

Real estate equities were broadly-higher as well led by the more pro-cyclical property sectors. The Equity REIT Index advanced 0.8% today with 16-of-18 property sectors higher while Mortgage REITs gained 0.5%. A NY Fed survey showed that consumers' inflation expectations have cooled significantly in recent weeks with respondents seeing one-year inflation at a 5.2% pace - the lowest since August 2021. Veris Residential (VRE) rallied after receiving two additional buyout offers from Kushner Companies, which proposed an all-cash deal at $17.50/share last Thursday and upped the proposal to $18.50 on Sunday following an initial unsolicited offer back in October at $16.00/share.

Income Builder Daily Recap U.S. equity markets rallied Monday - rebounding after its worst week since mid-September - ahead of a critical week of inflation data and central bank policy decisions beginning with the CPI report on Tuesday morning. Rebounding from declines of nearly 3.5% last week, the S&P 500 advanced 1.4% today while the Mid-Cap 400 and Small-Cap 600 each gained roughly 1%. Real estate equities were broadly-higher as well led by the more pro-cyclical property sectors as the Equity REIT Index advanced 0.8% today with 16-of-18 property sectors in positive-territory while the Mortgage REIT Index finished higher by 0.5%.

Homebuilders gained nearly 2%. The critical week of inflation data started on an encouraging note with the NY Fed's Survey of Consumer Expectations' showing that consumers' inflation expectations have cooled significantly in recent weeks with respondents seeing one-year inflation at a 5.2% pace - the lowest ...