AVB - Real Estate Weekly: Homebuilders Rally REITs Decline As Earnings Season Concludes
Real Estate Weekly Review
A relatively tranquil week in US equity markets was truncated on Friday amid a continuing currency crisis in emerging markets as the Turkish lira plunged more than 10%. Investors fled EM assets into safe-haven US Treasuries, sending the 10-Year yield below 2.90% after briefly flirting with the 3.0% level last week. Despite the late-week volatility, the S&P 500 (SPY) finished the week flat.
On another busy week of earnings season in the real estate sectors, REITs (VNQ and IYR) dipped 1% despite another week of strong quarterly