Value Rotation • Million COVID Cases • Jobs Data Ahead

January 4, 2022 | Hoya Capital

Value Rotation • Million COVID Cases • Jobs Data Ahead Real Estate Daily Recap Jan 4 Written By Summary U.S. equity markets were mixed Tuesday amid an apparent revival of the "reopening trade" as COVID-sensitive equity sectors rallied while technology stocks and longer duration bonds were again under pressure. Retreating slightly from yesterday's first record-high of 2022, the S&P 500 finished fractionally lower today while the Mid-Cap 400 advanced 0.5% and the Small-Cap 600 climbed 0.8%.

Real estate equities were mixed as strong performance from economically-sensitive property sectors was offset by weakness from technology and industrial REITs. Today's rotation from growth to value came despite a record-high quantity of COVID cases recorded in the U.S. with more than 1,000,000 cases recorded on Tuesday alone while hospitalizations have surged more than 50% in the last two weeks. Yesterday afternoon, Life Storage (LSI) became the first REIT to raise its dividend this year following a historic wave of over 130 REIT dividend increases in 2021.

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U.S. equity markets were mixed Tuesday amid an apparent revival of the "reopening trade" as COVID-sensitive equity sectors rallied while technology stocks and longer duration bonds were again under pressure. Retreating slightly from yesterday's first record-high of 2022, the S&P 500 finished fractionally lower today while the Mid-Cap 400 advanced 0.5% and the Small-Cap 600 climbed 0.8%. Real estate equities were mixed as strong performance from residential, office, and retail REITs were offset by weakness from technology and ...