REITs

REITs

"2017 Will Be A Tipping Point" - Why Some Think This Is The Next "Big Short"

"These malls are dying, and we see very limited prospect of a turnaround in performance" according to a January report from Alder Hill, which began shorting the securities. "We expect 2017 to be a tipping point." Indeed, cracks have appeared: prices on the BBB- pool of CMBS have tumbled from 96 cents on the dollar in late January to 87 cents last week

10 Straight Weeks Of Equity Inflows As All The New Money Goes To ETFs

The flood of retail money into the global stocks showed no sign of relenting in the latest week, after investors around the globe pumped money into stocks for the tenth straight week, according to EPFR data cited by BofA, which showed some $11.8 billion in equity inflows, however in continued disappointment for active asset managers, over $15 billion of was allocated to ETFs, while mutual funds saw another outflow of $3.6 billion.

Mega-Bears Smell Blood As Mall REITs Tumble

"There has been a steady drumbeat of negative reports from anchor retailers in the mall. As a result, when we keep hearing bad news it adds to the impression that there is a problem in the malls.”

DOJ Reverses Obama-Era Decision To Phase Out Private Prisons

Moments ago, US Attorney General Jeff Sessions reversed an Obama-era memo to phase out the use of private prisons, signalling his support for federal use of such facilities and advising that the Bureau of Prisons will "return to its previous approach to the use of private prisons."

Some Good News For Active Managers: First Weekly Mutual Fund Inflow In 12 Months

Finally some good news for active managers. After one year of consecutive outflows, last week saw the first inflows into long-only equity mutual funds going back to last February, as according to BofA there finally was a $0.5 billion cash inflow, "a sign of rising investor confidence & broadening participation in equity rally."

What Catalyst Will Start The Next Bear Market: Here Is Wall Street's Response

When BofA conducted its monthly Fund Managers' Survey, and asked what is the most likely bear market catalysts, the responses were as follows: "protectionism" = 34%, "higher rates" = 28%, "financial event" = 18%, "weaker EPS" = 15%. The "smart money" also said that the best protectionist investment is one: gold.

With The S&P At Record Highs, Investors Pull Cash From US Stocks In 4 Of The Past 5 Weeks

"it's risk-on in Bonds, it's inflation-on in Stocks, and EM is now playing role of cyclical catch-up trade" says BofA. In short, in the last week the Trump Trade has emerged from the dormancy in which it had faded for the past month. But when one looks at where the money is flowing, it's everywhere but where one would expect, as US stocks have seen outflows 4 of the past 5 weeks.

Make Stocks Volatile Again

January tends to show extremes of the market’s perceptions of near term risks, for good or for bad. And we know that at current levels the VIX highlights a complacent market. Does that assure us that things will get choppier from here? Of course not. But to be boldly bullish here is to ignore the historical patterns. And that seems riskier than staying aware of both history and current market dynamics. Based on the level of the economic policy uncertainty in the world, a regression model would have predicted that the VIX would be pushing 30 instead of hovering around 10.