RIET Hoya Capital High Dividend Yield ETF.png
HOMZ_Logo_Just Ticker.png
  • Alex Pettee, CFA

Record Week For Stocks On Easy Monetary Policy And Uptrend In Housing Data

  • For full report, click here to visit Seeking Alpha!

  • US equity markets rallied to record highs on the week as investors cheered the dovish tack by the Federal Reserve, which indicated it’s ready to respond to softening global growth.

  • Geopolitical tensions heated up with Iran, sending crude oil prices surging more than 9% on the week. State-side, it was another week of “IPO Mania”.

  • Already pricing-in dovish monetary conditions, the recently high-flying REITs underperformed on the week despite a decline in the 10-year yield to the lowest weekly close since 2016.

  • Beginning to reflect the plunge in fixed mortgage rates this year, existing home sales and housing starts both exceeded estimates. Multifamily starts jumped to the highest monthly rate since 2016.

  • Single-family markets have yet to kick into high-gear, however, as homebuilder sentiment ticked lower in June. Homebuilders finished sharply lower on the week following a cluster of analyst downgrades.

high yield REIT investing hoya capital logo.png

Hoya Capital Research & Index Innovations is an affiliated index provider and research firm that builds custom indexes tracking U.S. commercial and residential real estate sectors, including indexes tracked by exchange-traded funds (ETFs). 

Hoya Capital Research & Index Innovations