Resumo do Relatório
Case for a REITs rebound: Eye on the World 22/07/20
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Global markets resilient yesterday with S&P 500 now positive for year, supported by EU recovery fund deal, and focused on US ‘fiscal cliff’ negotiations. TSLA/MSFT report today, with 80% ‘beats’ so far.
HOT TOPICS looks at REITS, which have underperformed on huge divergence between infrastructure/industrial winners and retail/lodging losers. Sector now bigger, more diversified, less levered, more liquid than GFC, a net tech acceleration beneficiary, with rental payments strong, dividend yield spread near highs, and inflation expectations off-lows. We are contrarian overweight.
16-page daily includes: Market recap and What to watch; Hot Topic analysis; Country and Sector allocation eye; Key views; US and global performance, valuation, earnings, and macro forecasts; and report Library
