CBLAQ - Crypto Crackdown Drives Bid For Real Assets

• U.S. equity markets retreated on another turbulent week as investors backed away from speculative assets amid signs that supply shortages and surging prices have started to impair aggregate demand.
• Bitcoin plunged after U.S. and Chinese authorities each pushed ahead with increased regulatory scrutiny while investors have begun to question the inherent value - if any - of many "digital assets."
• Investors rotated into real assets this week with real estate and Gold leading the way. The Equity REIT Index gained 0.8% this week with 13 of 19 property sectors in positive-territory.
• Three REITs boosted their dividends this week, bringing the full-year total to more than 75. The "animal spirits" were evident in REIT world as we saw the fifth major REIT-involved merger of the past two months.
• Housing data this week showed that supply chain issues and surging prices have forced builders to delay activity despite robust housing demand and historically low inventory.

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