Market Commentary | September 20, 2024
Normalization
The ad nauseam discussion of when the Federal Reserve would cut interest rates finally concluded on September 18th when Jay Powell announced a 50-basis point reduction in the Fed Funds rate.
Market Commentary | August 21, 2024
Newton’s Laws of Motion define action in the physical world. The third law states that for every action there is an equal and opposite reaction. Because we are believers in science, we tend to apply these principles to arenas beyond the physical world. Economics and finance, for example.
Market Commentary | July 17, 2024
Market Commentary | July 17, 2024 A Glimpse at the Future? Earlier this month, a report of a cooling jobs market, closely followed by a CPI report that consumer prices declined in June, provided more than enough fuel to reignite speculation the Fed would soon begin...Market Commentary | June 20, 2024
Market Commentary | June 20, 2024 Back in 2018, 2nd Market Capital attached to the phrase, “REITs Touch Every Economic Sector”. Marketing slogans often quickly go musty, and dusty, and lose their significance, but based on how world economies are evolving, this...Market Commentary | May 21, 2024
Patient Money
Strong economic news from March dashed hopes of a June rate cut and in response, the MSCI REIT Index declined more than 7% in April. Moderating CPI and jobs data earlier this month caused REIT prices to rebound significantly in May, but we want to emphasize that our investments are not motivated simply by the vicissitudes of interest rates or other macroeconomic metrics.
Market Commentary | April 22, 2024
Two Sides to the Same Story
An inordinate amount of focus has been placed on which way the wind blows in relation to when the Fed will begin cutting interest rates.