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

RE:I was right

[DZtrader]

I think your comments here are if nothing else somewhat off base as the Fed more or less influences the short end of the curve which for the most part has little impact on reits as you have implued. The ten year which has a more direct impact is where you are best suited to look at or comment as it pertains to reits. I don't believe their cutting is indicative of a hard landing, there just is no evidence to support this. Not entirely convinced it is solely based upon inflation neither, although admittedly some consideration has to be given.

Reits struggles of late is two fold, consolidation after a sizeable move, plus the fact longer term yields have actually moved higher due largely to what appears to be reaccelleration or at minimum expectations of this.


The markets had priced in recession, the bond market in particular (the so called smart money) has been fooled a bit, a couple times here of late, along with a good number of us (although not all will readily admit this) and thus the drop in longer term rates just a short while back. Recession risk has nearly been taken off the table and the bond market is again adjusting to this back the other way.

I will spare everyone the nothing has acted/ reacted as normal of late sermon again but IT HAS played out this way. WE ARE in different times here. Look no further than the Fed cutting into what appears to be a strengthening economy while labor remains arguably quite strong.

To achieve a soft landing would be somewhat miraculous but it is in sight. Extremely hard to manuever to get there in particular after all we have come through and equally as important the huge uncertainty of what lies ahead after elections. The Fed let us not forget has to forecast ahead and has a fairly large disparity between two parties outlook. For now, slow and methodical towards neutral which I don't think anyone truly has yet to determine precisely where that is.

If you're looking for a "text book" answer to this, its probably not there, thats why many such as yourself extrapolate as you have in generalities that somewhat miss the mark, sorry. You are going to have to look beyond 1 + 1 = 2, because it hasn't equalled 2 for awhile now in case you haven't noticed.

Now before you come back with a whole bunch of nonsense, give this a bit of time to play out and see where it takes us, or look for the chapter that pertains to what has transpired of late, and good luck with that.
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