REITs and homebuilders took a leg lower this week as the 10-Year yield climbed back towards 2018 highs. Inflation expectations have picked up amid concern over tariffs, wages, and commodity prices.
Oil prices continue to tick higher, adding to the inflationary pressure. Despite booming US production, prices are up 30% YoY as the OPEC cartel continues to restrict production.
Earnings season began this week in the real estate sector. Highlights this week included stellar results from industrial REITs Prologis and EastGroup.
Retail sales topped estimates in March, continuing the positive momentum of last year. Brick and mortar retail sales have grown 3.2% over the last year, the strongest since 2016.
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