- U.S. equity markets retreated on another choppy week as record-high inflation reports and surging commodities prices kept upward pressure on interest rates while corporate earnings season kicked off with mixed results.
- Finishing lower for a second-straight week, the S&P 500 declined 2.2% on the week while the tech-heavy Nasdaq 100 dipped more than 3%, but Mid-Caps and Small-Caps delivered weekly gains.
- Ahead of the start of earnings season in the week ahead, real estate equities were mixed as the Equity REIT Index declined by 0.9% with 10-of-19 property sectors in positive territory.
- Inflation Remains A Problem: Consumer prices surged at the fastest pace in over four decades in March while producer prices rose at double-digit rates, but there were some early signs of cooling cost pressures.
- A trio of REITs hiked their dividends this past week. Tanger Outlets gained after raising its dividend by 9.6%, while Agree Realty hiked its dividend by 3.1%. We've now seen 56 equity REITs raise their dividend this year along with 7 mortgage REITs.
For further details see:
Inflation Remains Relentless