Market Commentary | May 21, 2024
Patient Money
Strong economic news from March dashed hopes of a June rate cut and in response, the MSCI REIT Index declined more than 7% in April. Moderating CPI and jobs data earlier this month caused REIT prices to rebound significantly in May, but we want to emphasize that our investments are not motivated simply by the vicissitudes of interest rates or other macroeconomic metrics.