- U.S. equity markets climbed to record-highs this past week on positive trial results for a COVID-19 vaccine, a potentially major breakthrough hailed as a "great day for science and humanity."
- Adding to its 7% post-election surge, the S&P 500 gained 2.3% this past week to close at fresh all-time record-highs. The Dow Jones Industrial Average has added nearly 3,000-points since Election Day.
- Vaccine optimism powered real estate equities to a historically strong week. More than 120 REITs gained over 10% as the Equity REIT Index jumped 7.0% while Mortgage REITs surged 8.8%.
- Sector rotation was the theme of the week as investors shifted away from the "stay at home winners" and towards some of the most beaten-down segments of the equity market including retail, hotel, and urban apartment REITs.
- The clock is ticking: while there is "light at the end of the tunnel," it appears that the vaccine won't come soon enough to prevent a "third wave" of targeted economic shutdowns in several hotspots around the country.
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Vaccine Powers REITs To Historic Rebound