Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Daily Recap: Fed Holds | Stocks Climb | REITs Dip

Coming off two straight days of modest declines, US equity markets climbed after Federal Reserve Chair Jay Powell set a "dovish" tone in the press conference following the Board's decision to keep short-term rates steady. The S&P 500 ETF (SPY) gained 0.3% on the day while the Nasdaq ETF (QQQ) climbed by 0.5%, each erasing essentially all of this week's losses. CPI inflation data this morning continued to reflect muted inflationary pressure, helping to send the 10-Year Treasury Yield (IEF) lower by 4 basis points to close at 1.79%. Despite the tick lower in yields, the broad-based Real Estate ETF (VNQ) declined by 1.0% on the day, dragged down by continued weakness in the retail REIT. 

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Hoya Capital Real Estate, LLC

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Hoya Capital Real Estate ("Hoya Capital") is an SEC-registered investment advisory firm that provides investment management services to ETFs, individuals, and institutions, focusing on portfolio and index management of publicly traded securities in the real estate industry. It is not possible to invest directly in an index. Index performance cited in this website or commentary does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. Nothing on this site nor any published commentary by Hoya Capital is intended to be investment, tax, or legal advice or an offer to buy or sell securities. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and should not be considered a complete discussion of all factors and risks. Data quoted represents past performance, which is no guarantee of future results. Investing involves risk. Loss of principal is possible. Investments in companies involved in the real estate and housing industries involve unique risks, as do investments in ETFs, mutual funds, and other securities. Hoya Capital has no business relationship with any company discussed/mentioned. Hoya Capital never receives compensation from any company discussed/mentioned. Hoya Capital, its affiliate, and/or its clients and/or its employees may hold positions in securities or funds discussed on this website and our published commentary. A complete list of holdings and other important disclosures and definitions are available by clicking the links below.

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