Rout Deepens • Fed 'Resolute' • Ian Impacts

September 30, 2022 | Hoya Capital

Rout Deepens • Fed 'Resolute' • Ian Impacts Real Estate Daily Recap Sep 30 Written By U.S. equity markets continued to slide Friday- deepening the worst monthly rout since March 2020- as lukewarm inflation and PMI data weren't weak enough to force the Fed to blink. Closing the month and quarter at the lowest levels in over two years, the S&P 500 declined another 1.4% today, pushing its weekly decline to nearly 3%.

Real estate equities caught a bid amid an otherwise brutal week of selling pressure. The Equity REIT Index advanced 1.1% today, trimming its weekly declines to under 4%. PCE Inflation - the Fed's preferred measure of inflation - came in hotter than expected in August as rising prices for food and services more-than-offset the decline in energy prices. Crude Oil dipped 2% to erase its weekly gains as global demand concerns negated the upward pressure from disruptions caused by Hurricane Ian and a worsening supply outlook in Europe.

Real Estate Daily Recap U.S. equity markets continued to slide Friday - deepening their worst monthly rout since March 2020 - as lukewarm inflation and PMI data likely wasn't weak enough to force the Fed to "blink" in its aggressive tightening course. Closing the month and quarter at the lowest levels in over two years, the S&P 500 declined another 1.4% today, pushing its weekly decline to nearly 3%. The Mid-Cap 400 and Small-Cap 600 posted more modest declines.

Real estate equities caught a bid amid an otherwise brutal week of selling pressure. The Equity REIT Index advanced 1.1% today with 17-of-18 property sectors in positive territory - trimming the index's weekly declines to under 4%. The Mortgage REIT Index slipped another 0.5% today to push its weekly declines to over 12% amid a punishing week for bond markets. Bond markets remained under pressure today as interest rate volatility remained at levels last seen during the COVID turmoil in ...