NEWS AND UPDATES
REIT Total Return – Positioning for 2025
The turn of the calendar has some trading implications such as tax-loss-selling and perhaps some window dressing from the unscrupulous sorts. More commonly though it is time in which people reflect on the year passed and the year ahead. Our focus is always on the...
The State of REITs: January 2025 Edition
REIT Performance
December was a brutal final month of 2024 for REITs with a -6.85% average total return. REITs underperformed the broader market in the final month of the year as the Dow Jones Industrial Average (-5.1%) and S&P 500 (-2.4%) saw smaller declines while the NASDAQ (+0.6%) eked out a gain.
Market Commentary | January 20, 2025
The Bond Market Conundrum
A funny thing happened during our long wait for lower interest rates. On September 18th, Jerome Powell finally began reducing short-term borrowing costs with a 50-basis point cut to the Fed Funds rate. At the time, 10y US Treasuries were yielding 3.70%.
The State of REITs: December 2024 Edition
The REIT sector bounced back from a rough October with a strong +3.19% average total return in November. Small cap (+4.19%), mid cap (+3.70%) and large cap (+3.39%) REITs averaged gains in November, while micro caps (-0.81%) finished the month in the red. 74.19% of...
Market Commentary | December 23, 2024
Short Term Pain, Big Potential Gain
In January I will begin my 42nd year as a professional investor. Markets are always changing but there is a generally recurring rhythm and calendar.
Market Commentary | November 19, 2024
Which Way Go Rates? As anticipated, on November 7th the Fed followed up on September’s 50 basis point rate cut with an additional 25 basis point reduction. The broader bond market, however, seems to be living in an entirely different macroeconomic universe. While the...
The State of REITs: November 2024 Edition
The REIT sector snapped a 5-month winning streak with a -3.42% average total return in October. Micro cap (-2.04%) and mid cap (-2.30%) REITs averaged modest declines in October, while large caps (-3.89%) and small caps (-4.62%) were deeper in the red. 90% of REIT...
An Inflection Point in Residential Real Estate
The residential real estate industry has undergone significant changes as a result of economic shifts, industry-specific activity, and consumer behavior. We believe there is a disconnect between the market’s perception of the asset class and forward fundamentals. ...
REIT Total Return Positioning in a shifting REIT Landscape
The REIT Total Return (RTR) portfolio has been running for over 8 years in a rapidly changing macro environment. We believe it is important to maintain a consistent underlying investment philosophy to incorporate nuanced opportunities in an ever-changing market. ...
Market Commentary | October 18, 2024
Growth
Now that the Fed has at last started reducing interest rates, our attention can more singly be focused on growth opportunities in today’s economy. The obvious, and most talked about trend is artificial intelligence.
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2nd Market Capital Advisory Corp
650 N. High Point Road
Madison, WI 53717
(608) 833-7793 - phone
info@2ndmarketcapital.com
