Full Inversion • Job Growth • REITs Rebound

April 1, 2022 | Hoya Capital

Full Inversion • Job Growth • REITs Rebound Real Estate Daily Recap Apr 1 Written By U.S. equity markets advanced Friday- erasing most of their weekly declines- after solid employment data relieved some immediate recession concerns, but kept pressure on the Fed to tighten monetary policy. Ending another choppy week at essentially the same level it began, S&P 500 advanced 0.3% today while Mid-Caps and Small-Caps outperformed, rising 0.7% and 1.0%, respectively.

Real estate equities were a bright spot today - and on the week - as the Equity REIT Index rallied 1.9% with all 19 property sectors in positive territory. We have full inversion: strong employment data pushed the 10-Year Treasury Yield higher by 5 basis points to 2.38% while the 2-Year Treasury Yield closed at 2.45%, resulting in the lowest spread on the 10-2 yield curve since April 2007. Troubled mall REIT CBL Properties (CBL) finished higher after reporting decent Q4 results which included a couple of encouraging indicators as occupancy and leasing metrics showed notable signs of improvement.

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U.S. equity markets advanced Friday - erasing most of their weekly declines - after solid employment data relieved some immediate recession concerns, but kept the pressure on the Fed to tighten monetary policy. Ending another choppy week at essentially the same level it began, S&P 500 advanced 0.3% today while Mid-Caps and Small-Caps outperformed, rising 0.7% and 1.0%, respectively. Real estate equities were a bright spot today - and on ...