Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Risk-On | Deflation | Timber!

Daily Recap

  • U.S. equity markets finished higher on Friday, pushing the major averages to a second-straight week of solid gains despite continued concerns over increasing levels of confirmed coronavirus cases.

  • Finishing the week higher by 1.7%, the S&P 500 finished higher by 1.0% today while the Dow Jones Industrial Average gained 369 points, reversing yesterday's 361 points decline.

  • Ending the week lower by roughly 2% - the second-worst performing equity sector this week - Equity REIT ETFs finished higher by 0.4% today with 14 of 18 sectors higher.

  • Producer Prices unexpectedly fell in June as inflation metrics remain near record-lows despite unprecedented levels of fiscal and monetary stimulus. We'll have a full breakdown in our Weekly Outlook published Saturday morning.

  • Timber! One commodity that is seeing some upward price pressure is lumber prices, which have surged in recent months amid the sharp rebound in home construction activity. Timber REITs led the gains today following positive analyst commentary.

To read the full report, click here to visit Seeking Alpha!

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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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