Peace Talks • Yield Curve Inversion • Strong Housing Data

March 29, 2022 | Hoya Capital

Peace Talks • Yield Curve Inversion • Strong Housing Data Real Estate Daily Recap Mar 29 Written By U.S. equity markets advanced Tuesday while commodities prices retreated following reports of "constructive" peace talks between Russia and Ukraine, and on stronger-than-expected economic data across the labor and housing markets. Adding to Monday's gains of 0.7% and pulling the benchmark back within 4% of its recent highs, the S&P 500 advanced another 1.2% today while Mid-Caps and Small-Caps rallied more than 2%.

Real estate equities were among the leaders for a second-straight day as the Equity REIT Index rallied 2.9% with all 19 property sectors in positive territory while Mortgage REITs advanced 1.9%. After cooling off slightly at the end of last year, home values reaccelerated in early 2022 as the effects of tight supply and strong demand are counteracting the headwinds from rising mortgage rates. Fed already ahead of the curve? The 10-Year Treasury Yield declined 8 basis points, briefly inverting the closely-watched 10-2 yield curve for the first time since late 2019, continuing a trend of flattening that typically occurs late in the Fed hiking cycle.

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U.S. equity markets advanced Tuesday while commodities prices retreated following reports of "constructive" peace talks between Russia and Ukraine, and on stronger-than-expected economic data across the labor and housing markets. Adding to Monday's gains of 0.7% and pulling the benchmark back within 4% of its recent highs, the S&P 500 advanced another 1.2% today while ...