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

You can't always get what you want!

[DZtrader]

..........but eventually we will get what we need! I'll put myself out on a limb again and say there is a reasonable chance the market may be set up for a bit of a downside surprise from the Fed. I think the market has gotten a tad ahead of itself as it generally does. I am guessing Powel remains a bit more hawkish in his stance then the market anticipates. Having said that, they have repeadedly suggested data dependance with regards to both increases and cuts. That being the case, cuts MUST be on the horizon or they create a credibility issue. I just don't think they come outright and give the market what it wants, at least just not quite yet. 

I think best case scenario right now is acknowledgement of inflation coming in, hold out a bit longer to ensure we are there and a hint of cuts coming, likely in the second half. Of interest will be the somewhat comical " dot plots" and what they indicate. Anything more hawkish and we will pull back a bit given how far we have run, consequently, any real mention to cuts and we are off to the races, but don't hold your breathe for that in this meeting. 

With regards to reits, anything shy of cuts doesn't move the needle, however,  I expect reallocation into this sector, rotation will happen, just takes time, moreso than at least one somewhat unsavvy poster here has patience for. 

Stay good,

DZ