Interest Rates, Brexit, and Power FinancialA few things:
(i) Well it looks like BoJo's majority has very little impact on the BPY share price. I personally do not think Brexit is a big deal and so from an intrinsic perspective, seeing the Brexit situation move a step closer to clarity is good for BPY, IMHO.
(ii) It seems pretty clear to me that rising interest rates are the biggest driver of BPY stock volatility. I think Powell and Co. are going to be keeping rates down for a long time not because of low inflation but rather companies are so levered, they cant afford higher rates - this is good for BPY in a weird kind of way. But BPY is the poster child for high leverage. But high leverage in strong hands is never a bad thing, IMHO.
(iii) It was interesting earlier this year as Power Financial followed BPY's lead in doing a substantial issuer bid. Like BPY, their stock popped and then fizzled. This morning, Power Financial took another constructive step to get their stock moving by combining with their parent, Power Corp, and the stock is up almost 10% today. BPY, we are waiting for your next move?
Vette