Week Ended 6/29/18

The highest upside, the riskiest and the chopping block There was relatively less macro news to mull over this week, so I want to dedicate this post to instead talk about specific positions indicated by the title. Highest upside Generally, when our positions...

Week Ended 6/22/18

REITs as a trade-war safe haven REITs have done quite in recent weeks amid news of escalating trade tensions.  I suspect this is because they could be viewed as a shelter.  It remains entirely unclear if anything substantive will come of the negotiations and I mean...

Week Ended 6/15/18

Fed week The Fed hiked this week and indicated a continuation of the current pace with expectations for 4 hikes in 2018.  Despite this fairly hawkish action, the rhetoric of Powell was a bit softer with indications of an equilibrium rate that is below historical...

Week Ended 6/8/18

REITWEEK takeaways Each June, we attend REITWEEK and meet with as many management teams as we can pack into our schedule.  The intent is to gain insight into both individual companies and trends in REIT sectors.  Among the companies held in 2CHYP, we met with the...

Week Ended 6/1/18

Interest rate head-fake affords accretive repositioning The ten-year treasury yield has dipped to 2.89% from as high as 3.1% just a few weeks ago.  As I have stated numerous times, I do not believe REITs are fundamentally sensitive to interest rates, but their market...