REIT - Markets Gone Wild

2025-04-13 09:00:00 ET

Summary

• US equity markets fluctuated wildly in a tumultuous week - ultimately ending with the best weekly gains since November 2023 - after the White House announced a delay on the most "reciprocal" tariffs.
• Following several days of extreme volatility in which tremors of instability were felt across global markets, investors exhaled as the Administration's tariff messaging pivoted from "retribution" and "score-settling" to dealmaking.
• Government bond markets were in focus throughout the week as the 10-Year Treasury experienced significant and still-unexplained weakness, failing to act as typical "safe havens" during the market plunge.
• Following its worst week since the depths of the COVID pandemic, the S&P 500 rallied 5.7% on the week, powered by its best single-day gains since 2008 on Wednesday.
• After significantly outperforming the broader market since mid-January, REITs and Homebuilders were the weakest performing segments this past week as long-term interest rates soared. Ahead of the start of earnings season next week, two retail REITs raised their dividends this week, while one office REIT announced a dividend reduction.

Real Estate Weekly Outlook

US equity markets fluctuated wildly in a tumultuous week - ultimately ending with the best weekly gains for the S&P 500 since November 2023 - after the White House announced a 90-day delay on most "reciprocal" tariffs, citing progress on trade negotiations with non-retaliating countries. Following several days of extreme volatility in which tremors of instability were felt across global markets, investors breathed a collective sigh of relief after the Trump Administration pivoted the focus of its messaging away from one of retribution and score-settling and instead on pragmatic negotiations and dealmaking, while zeroing in on reconfiguring the relationship with China - for better or worse - as the ultimate focus of the "America First" economic realignment....

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