Artis Real Estate Investment Pref Shs Series E T.AX.P.E

Another nice day for reits again....................

[DZtrader]

Not entirely sure how the Kazakhstan market or reits fared but we had another reasonably strong day today in particular after a strong showing on Friday. The follow through that I was hoping for. While I recognize we have not lit the world on fire here we did add to gains instead of giving back and that is the first step. I have to say I am well pleased with that. We will see how things shake out after the cpi but I am not expecting an overheated print save and accept for as noted the price of gas could put some pressure on the number.

I think the market remains good here with the "dangling of the carrot", that being the pretense of cutting rates. In fact if the Fed can sucessfully maintain the anticipation without loosing the audience so to speak, we could make it through the year without any and still enjoy a nice slow grind higher. This will come home to roost eventually, no doubt, but in the mean time buying of time in anticipation is working. I do still maintain cuts will happen probably even as early as June, if not, keep dangling................markets are adjusting, earnings are good (enough) and inflation thus far is SLOWLY coming in. The much over used term Goldilocks, like it or not, is evident.

Stay good,

DZ