REITs Steady As Stocks Dive [Daily Recap]

February 24, 2020 | Hoya Capital

REITs Steady As Stocks Dive [Daily Recap] Uncategorized Feb 24 Written By U.S. equity markets suffered steep declines on Monday as investors continued to pile into safe-haven assets on mounting fears over the economic fallout from the coronavirus outbreak. Coming off 1.2% declines last week, the S&P 500 finished lower by 3.2% while the Dow Jones Industrial Average dipped by more than 1,000 points, the worst day in two-years. The 10-Year Treasury Yield dipped another 9 basis points to 1.38%, flirting with the all-time intraday low of 1.325% from 2016.

The domestic-focused, yield-sensitive sectors were relative winners today. The broad-based commercial Real Estate ETF (VNQ) outperformed by a wide margin, finishing lower by "just" 1.4% on the day ahead of another jam-packed week of real estate earnings results. The continued strength of the domestic housing and real estate industry - which helped to power the economy up the "wall of worry" last year - will be asked to shoulder even more of the burden of global economic growth in the early stages of 2020.

Real Estate Daily Recap U.S. equity markets suffered steep declines on Monday as investors continued to pile into safe-haven assets on mounting fears over the economic fallout from the coronavirus outbreak. Coming off 1.2% declines last week, the S&P 500 ETF ( SPY ) finished lower by 3.2% while the Dow Jones Industrial Average ( DIA ) dipped by more than 1,000 points. The 10-Year Treasury Yield ( IEF ) plunged another 9 basis points to 1.38%, flirting with the all-time intraday low of 1.325% on July 6, 2016.

The domestic-focused, yield-sensitive sectors including real estate, housing, and utilities were the relative winners on the day. The broad-based commercial Real Estate ETF ( VNQ ) finished lower by "just" 1.4% on the day ahead of another jam-packed week of real estate earnings results. The continued strength of the domestic housing industry - which helped to power ...