RMRM - Tax Hike Fears Unsettle Investors

• U.S. equity markets remained under pressure this week amid concerns over tax hike proposals and the looming fiscal cliff while fresh data showed that soaring prices have sent consumer confidence plunging.
• Declining in eight of the past ten trading sessions and dipping below its 50-day moving average, the S&P 500 slid 0.9% this week, but Mid-Caps and Small-Caps were relative outperformers.
• Bouncing back from their worst week in nearly a year, real estate equities were leaders this week, powered by a wave of REIT dividend increases and strong mid-quarter performance updates.
• Eleven more REITs hiked their dividends this week, bringing the full-year total to 109. Highlighting a busy week of REIT updates, Mid-America reported that it achieved rent growth on new leases of 20% in August.
• Homebuilders were a bright spot in an otherwise downbeat week on data showing that mortgage demand jumped to the highest level since April and retail sales data showing robust spending on home furnishing and appliances.

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