REITs were hit the most during last week, trading below their net asset value, with a median discount of 15.8%.
Industrial, medical and office REITs are struggling, while data center REITs are thriving.
Residential REITs are also hurting as more of them see their occupancy rate falling to an all-time low at 87%
Safe to say, not a great time for REITs at the moment.
Ethereum is leading the Crypto front as developers launch the Dencun Upgrade, which will improve the coin’s scalability and efficiency. According to the Ethereum team, the upgrade has yielded positive results on their testnets.
Bonds and stocks also showed some resistance as the United States Treasury aims to auction almost $42 billion in ten-year bonds.
Ford Motor Co. is this week’s big winner, while New York Community Bancorp got BTFO by Moody’s, who just downgraded its bonds to ‘junk’.