Volatility Eases • Movie Theater Deal? • NYC Office Lease

March 28, 2023 | Hoya Capital

Volatility Eases • Movie Theater Deal? • NYC Office Lease Daily Recap Mar 28 Written By Alex Pettee, CFA U.S. equity markets and bond markets finished little-changed Tuesday in a refreshingly calm trading session that saw the CBOE Volatility Index decline below 20 for the first time since the SVB collapse. Following gains of 0.2% on Monday, the S&P 500 finished lower by 0.2% today, while the tech-heavy Nasdaq 100 declined 0.5%.

The Mid-Cap 400 and Small-Cap 600 both finished slightly higher. Real estate equities were mixed with the Equity REIT Index finishing lower by 0.2% with 10-of-18 property sectors in positive territory, while the Mortgage REIT Index declined 0.2%. Movie theater chain AMC Entertainment - which is a tenant of several net lease REITs, including EPR Properties (EPR) - rallied more than 10% following a report from The Intersect that Amazon is exploring an acquisition of the company.

SL Green (SLG) was among the better performers today after it announced that Palo Alto Networks signed a long-term lease for a floor One Madison Avenue, bringing the company's 2023 signed office leasing volume to nearly 500K sq. feet, up from under 200k in Q4. Income Builder Daily Recap U.S. equity markets and bond markets finished little-changed Tuesday in a refreshingly calm trading session that saw the CBOE Volatility Index decline below 20 for the first time since the Silicon Valley Bank collapse.

Giving back its gains of 0.2% on Monday, the S&P 500 finished lower by 0.2% today while the tech-heavy Nasdaq 100 declined 0.5%. The Mid-Cap 400 and Small-Cap 600 both finished slightly higher. Benchmark interest rates inched higher for a second session as concerns over further financial contagion have eased this week. The 2-Year Treasury Yield advanced 10 basis points to 4.08% today while the 10-Year Treasury Yield climbed 4 basis points to 3.56%.

Real estate equities were mixed with the Equity REIT Index finishing lower by 0.2% ...