Housing Stays Hot [Daily Recap]

February 19, 2020 | Hoya Capital

Housing Stays Hot [Daily Recap] Uncategorized Feb 19 Written By Strong housing data powered the U.S. equity markets to fresh record-highs on Wednesday, while investors cheered China's announced stimulus measures to counteract the economic fallout from the ongoing coronavirus outbreak. The S&P 500 finished higher by 0.5% and the Dow Jones Industrial Average added 115 points while the 10-Year Treasury Yield gained 1 basis point to close at 1.57%. The recently high-flying commercial REIT sector gave back some of its recent outperformance, however, in a clear "risk-on" trading pattern.

The broad-based commercial REIT ETF dipped 1.3% on the day. M&A news again the headline of the day after Simon and Brookfield formally announced the acquisition of Forever 21, which filed for bankruptcy in September, in a rather unprecedented move for the retail landlords. The U.S. housing market continues to heat-up, confirmed this morning by robust Housing Starts and Building Permits data, which smashed through estimates. Building Permits climbed to 13-year highs.

Real Estate Daily Recap Strong housing data powered the U.S. equity markets to fresh record-highs on Wednesday, while investors cheered China's announced stimulus measures to counteract the economic fallout from the ongoing coronavirus outbreak. After dipping 0.3% yesterday, the S&P 500 ETF ( SPY ) finished higher by 0.5% and the Dow Jones Industrial Average ( DIA ) added 115 points while the 10-Year Treasury Yield ( IEF ) climbed 1 basis point to close at 1.57%.

The recently high-flying commercial REIT sector gave back some of its recent outperformance as the broad-based commercial Real Estate ETF ( VNQ ) dipped 1.3%, dragged down by the self-storage and shopping center sectors on another frenetic day of REIT earnings. The U.S. housing market continues to heat-up, confirmed this morning by robust Housing Starts and Building Permits data, which smashed through estimates. The Hoya Capital Housing Index , the benchmark that tracks the performance of the US Housing Industry, briefly touched ...