REIT Performance Overview - REITs experienced a significant rebound in August with an average return of +5.48%, recovering most losses from the first seven months of the year [1] - The average REIT outperformed broader market indices, including the Dow Jones Industrial Average (+3.4%), S&P 500 (+2.0%), and NASDAQ (+1.7%) [1] - Year-to-date, the Vanguard Real Estate ETF (VNQ) has outperformed the average REIT, with returns of +5.65% compared to -1.11% for the average REIT [1] Performance by Market Capitalization - Small cap REITs (+7.52%) and mid cap REITs (+7.13%) outperformed large cap REITs (+3.16%) and micro cap REITs (+0.87%) in August [3] - Over the first eight months of 2025, large cap REITs have outperformed small caps by 186 basis points [3] Property Type Performance - 83.33% of REIT property types averaged positive returns in August, with a notable 22.34% total return spread between the best (Malls +12.70%) and worst (Infrastructure -9.64%) performing property types [5][6] - Health Care (+17.97%) and Casino REITs (+10.85%) showed strong performance over the first eight months of 2025, while Hotels (-11.28%) were the worst-performing property type [6][7] Price/FFO Multiples - The average P/FFO (2025Y) for the REIT sector rose from 13.7x to 14.5x in August, with 83% of property types experiencing multiple expansion [7] - Land (26.9x), Data Centers (25.9x), Multifamily (22.1x), and Single Family Housing (21.3x) currently trade at the highest average multiples among REIT property types [7] Individual Security Highlights - Plymouth Industrial REIT (PLYM) surged by +51.52% following an unsolicited acquisition proposal from Sixth Street Partners at $24.10/share [9] - Wheeler REIT (WHLR) was the worst-performing REIT in August with a return of -48.09%, and has seen a staggering -99.62% total return over the first eight months of 2025 [10] Dividend Yield Insights - High dividend yields are a significant attraction for investors in the REIT sector, with many REITs trading below their NAV, leading to attractive yield opportunities [14]

Scott Chronert, Citi US equity strategist and managing director, expects a pickup in US equity market volatility and then a year-end rally after the Federal Reserve rate-cut cycle starts. He speaks on "Bloomberg Open Interest." ...

Market Overview - The S&P 500 and NASDAQ are experiencing record highs, with the S&P up about 0.5% and NASDAQ up approximately 0.6% [2] - Alphabet has reached a market cap of over $3 trillion, joining Apple, Microsoft, and Nvidia in this exclusive club, with a year-to-date gain of 32% [3][4] Federal Reserve Insights - The Federal Reserve is widely expected to cut interest rates by 25 basis points, with discussions around the potential for one to three total cuts this year depending on labor market conditions and inflation [8][20] - Inflation remains above the Fed's 2% target, complicating the decision-making process for rate cuts [9][11] - Fed Chair Jay Powell's upcoming commentary is anticipated to provide insights into future rate cuts and the Fed's stance on inflation and employment [16][21] Trade and Economic Relations - Ongoing trade negotiations between the US and China are crucial, with Treasury Secretary Scott Besson meeting with Chinese officials to discuss tariffs and a potential TikTok deal [37][100] - The Chinese economy is showing signs of slowing, with retail sales and industrial output expanding less than expected, raising concerns about the property market's recovery [99][106] Gold Market Performance - Gold has seen significant gains, marking its best performance since 1979, driven by inflation concerns and central bank buying, particularly from China [77][81] - The current inflation rate is reported at approximately 2.9% according to CPI, with central banks continuing to purchase gold, contributing to its strength [80][82] - Seasonal trends indicate that September is typically a weak month for gold, but the metal has performed well despite this, suggesting potential strength moving into October and December [86][90] Company-Specific Developments - Micron's stock target has been raised by Deutsche Bank due to strong demand for high bandwidth memory chips, essential for AI data centers [51] - The RealReal has seen its price target increased by B. Riley Securities, citing significant margin potential and growth confidence [52] - Beyond Meat's stock has been downgraded by Argus Research due to declining sales and a weak balance sheet, with a 20% year-over-year revenue drop reported [54]

Investors have been piling cash into money-market funds because of their low risk and attractive interest rates. ...

Labor Market Overview - The August jobs report indicates a significant slowdown in hiring, with only 22,000 jobs added, falling short of expectations of 75,000 to 78,000 [2][3] - The unemployment rate has risen to its highest level since 2021, reflecting a concerning trend in the labor market [1][3] Economic Implications - The weak job growth has led to increased expectations for Federal Reserve rate cuts, with a strong likelihood of a quarter-point cut in September and potential cuts in October and December [4][10] - The overall economic outlook appears to be stalling, raising concerns about the potential for a recession [5][6] Sector Performance - There is notable weakness in goods-producing sectors, particularly manufacturing and construction, which have seen job losses in recent months [7][16] - Conversely, healthcare and social assistance sectors have shown strength, adding 46,800 jobs, driven by an aging population requiring more services [15][16] Market Reactions - The market's response to the jobs report has been mixed, with investors uncertain about the implications of weak job growth on the economy and Fed policy [4][5] - Investors are advised to be cautious in their reactions to job reports, as market volatility can occur following significant economic news [17][18]

Bank of America Securities Head, US Rates Strategy Mark Cabana discusses how investors have been underweight in the front-end of the curve and says the market is underpricing how much the Fed. He speaks with Scarlet Fu on 'Real Yield.' ...

Group 1 - The Federal Reserve is expected to cut interest rates next week, with a nearly unanimous consensus among committee members [1][2] - Traders are pricing in a 93% chance of a 25 basis-point cut, while the likelihood of a 50 basis-point reduction is significantly lower [2] - Federal Reserve governor Christopher Waller and Vice Chair for Supervision Michelle Bowman are likely to advocate for a larger cut, marking a notable dissent in the committee's recent history [2]

Group 1: Bitcoin Price Movement - Bitcoin's price surged past $115,000, reaching a daily high of $116,317, marking a nearly 3% weekly gain [1] - The surge resulted in over $354 million in liquidations for leveraged traders, with $121 million from long positions and $233 million from short positions [1] Group 2: Federal Reserve Rate Cuts - A Reuters survey indicated that 105 out of 107 economists expect the Federal Reserve to cut rates by 25 basis points on September 17, lowering the target range to 4.00%–4.25% [2] - Weak labor market data has shifted sentiment towards a more aggressive easing path, with markets pricing in at least one rate cut and expectations for up to three reductions by year-end [3] Group 3: Market Indicators and Sentiment - CryptoQuant's Bull Score Index shows eight out of ten core market indicators are bearish, raising concerns about Bitcoin's short-term outlook [4] - The CoinGlass Bull Run Index (CBBI) is at 74, suggesting the market is about three-quarters through the current bull cycle, but only one of its 30 peak signals has triggered [5] Group 4: Potential for Continued Rally - Despite the recent liquidations and bearish signals, macroeconomic conditions could support Bitcoin's price if the Fed cuts rates and adopts a dovish stance [6]

Market Overview - August was a surprisingly steady month for markets despite inflation concerns and trade tensions, with investors focusing on solid corporate earnings and potential Fed rate cuts [1] ETF Inflows - ETFs attracted a record-breaking $118 billion in net new assets in August, more than three times the historical average of $36 billion, indicating a shift in investor behavior towards liquidity and diversification [2] - A significant portion of ETF inflows was directed towards fixed income, with $13 billion into investment-grade corporate bond ETFs and $17 billion into active bond ETFs, marking the highest inflows on record [4][5] Fixed Income Trends - Fixed income ETFs saw elevated interest, particularly in investment-grade corporate bonds and short- to intermediate-duration government bonds, reflecting a preference for higher-quality debt instruments [3][5] - Inflation-linked bond ETFs attracted $1 billion in new flows, marking the eighth consecutive month of inflows, indicating persistent investor concerns about inflation [6] Gold ETFs - Gold ETFs experienced substantial inflows driven by renewed inflationary concerns and expectations of earlier-than-anticipated policy easing by central banks, reinforcing gold's status as an inflation hedge [7] U.S. Equities Valuation - U.S. equities faced valuation headwinds, with the S&P 500's earnings yield dropping to 3.7%, below the cash yield of 4.22% from short-term U.S. Treasuries, suggesting potential overvaluation [8][9] International Equities - Non-U.S. equities are yielding nearly twice as much as U.S. counterparts and have outperformed U.S. markets by nearly 10% YTD, the largest performance gap since 2009, driven by a weaker U.S. dollar and easing monetary policy abroad [10][11][12] Fed Policy Outlook - The Federal Reserve is at a critical juncture, with markets assigning an 88% probability of a rate cut at the next meeting, while September is historically the weakest month for equity performance [13][14] Investor Positioning - There is a discernible tilt towards cyclical sectors like industrials and technology, with growth-oriented equity strategies receiving twice the inflows of value-based strategies, indicating a renewed appetite for companies with strong earnings momentum [15]

U.S. inflation firmed in August. The headline CPI rate increased by 0.382%, above the consensus target of 0.36%, and higher than the 0.197% July increas e. Headline CPI is now the steepest since January. Core CPI, whichFreelance Financial Writer | Investments | Markets | Personal Finance | RetirementI create written content used in various formats including articles, blogs, emails, and social media for financial advisors and investment firms in a cost-efficient way. My passion is putting a narrative to fina ...