Rate Hike Unease • Office Recovery • Tech Rout

January 6, 2022 | Hoya Capital

Rate Hike Unease • Office Recovery • Tech Rout Real Estate Daily Recap Jan 6 Written By Summary U.S. equity markets were lower for the third-straight-day Thursday while Treasury yields climbed to the highest level since the start of the pandemic as investors priced-in expectations of Fed rate hikes. Following declines of nearly 2% yesterday, the S&P 500 slipped another 0.1% on the day while the tech-heavy Nasdaq 100 declined 0.1% and is on pace for its worst week since 2020.

Real estate equities were among the leaders today with the Equity REIT Index advancing 0.1% on the day with 13-of-19 property sectors in positive territory while Mortgage REITs gained 0.4%. Treasury yields climbed for a fourth consecutive day with the 10-Year Treasury Yield rising to the highest level since the start of the pandemic after the Fed appeared unfazed by Omicron. Crown Castle (CCI) gained 2% after announcing a 12-year agreement with T-Mobile allowing increased access to its towers and small cells to build out its 5G network while AT&T and Verizon continue a battle with regulators over C-band deployment.

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U.S. equity markets were lower for the third straight day Thursday while Treasury yields climbed to the highest level since the start of the pandemic as investors priced in expectations of Federal Reserve interest rate hikes. Following declines of nearly 2% yesterday, the S&P 500 slipped another 0.1% on the day while the tech-heavy Nasdaq 100 declined another 0.1% and ...