Hawkish Powell • Stocks Dip • REIT Earnings

September 30, 2022 | Hoya Capital

Hawkish Powell • Stocks Dip • REIT Earnings Real Estate Daily Recap Mar 7 Written By U.S. equity markets tumbled Tuesday after Fed Chair Powell struck a hawkish tone in Congressional testimony, commenting that the Fed is prepared to "increase the pace of rate hikes" if warranted. After finishing roughly flat on Monday, the S&P 500 dipped 1.5% today while the Mid-Cap 400 and Small-Cap 600 depend on their weekly losses to over 2.5%.

The Dow dipped 575 points. Real estate equities and other yield-sensitive segments were under pressure again with the Equity REIT Index dipping 2.4% today with 17-of-18 property sectors in negative territory. The long-end of the yield curve was little changed with the 10-Year Treasury Yield holding steady at 3.98%, but shorter-term rates surged with the 2-Year Treasury Yield closing above 5% for the first time since 2007. Cannabis REIT AFC Gamma (AFCG) was among the top-performers today after reporting decent results while noting that it plans to pivot its strategy away from exclusively cannabis-related lending, citing limited opportunities given recent industry headwinds.

Income Builder Daily Recap U.S. equity markets tumbled Tuesday after Fed Chair Powell struck a hawkish tone in Congressional testimony, commenting that the Fed is prepared to "increase the pace of rate hikes" if warranted. After finishing roughly flat on Monday, the S&P 500 dipped 1.5% today while the Mid-Cap 400 and Small-Cap 600 depend on their weekly losses to over 2.5%. The long-end of the yield curve was little changed, with the 10-Year Treasury Yield holding steady at 3.98%, but shorter-term rates surged, with the 2-Year Treasury Yield closing above 5% for the first time since 2007.

Real estate equities and other yield-sensitive segments were under pressure again with the Equity REIT Index dipping 2.4% today with 17-of-18 property sectors in negative territory, while the Mortgage REIT Index declined 1.6%. Real Estate Daily Recap Best & Worst Performance Today Across the REIT Sector ...