Today’s update on consumer spending and income confirms what was already clear in Friday’s Q1 GDP report: the economy is rebounding. It’s debatable if the rebound has the wherewithal to roll on at a pace that’s sufficient to keep the economic engine humming. But for the moment, the numbers speak loud and clear.
Monthly Archives: May 2010
REITS CONTINUE TO SOAR
April was relatively uneventful for the major asset classes in terms of total returns—with one exception. REITs scored another outsized gain last month, posting a strong 7.7% total return, based on the MSCI REIT Index. Real estate securities are also far ahead of the pack for 2010 after advancing by nearly 18%, or about twice as much compared to the next-best performance for U.S. stocks in the year-to-date ranking. But with REIT valuations stretched thin, it’s getting harder to expect the real estate surge to roll on at this pace.