U.S. Treasury yields held firm on Wednesday on optimism that the Federal Reserve will lower rates more than once this year, but investors had little incentive to trade ahead of important inflation data next week. The Treasury will sell $42 billion in 10-year notes later in the day, after Tuesday's well-received sale of 3-year Treasuries. The yield on benchmark U.S. 10-year notes rose 2.1 basis points from late Tuesday to 4.482%.
The dark cloud hanging over the US real estate market may be casting an even longer shadow on REITs, or real estate investment trusts. The Federal Reserve's sentiment on keeping interest rates higher for longer has prolonged elevated mortgage rates, which have run rampant and impaired Americans' ability to buy or own a home. Janus Henderson Investors Global Real Estate Portfolio Manager Gregory Kuhl and Haendel St. Juste, Mizuho Senior Equity Research Analyst for REITs and Homebuilders, sit down with Yahoo Finance's Market Domination to talk about the Fed's monetary policy and its reverberations felt by REITs and the broader real estate industry. "We're pretty optimistic that assuming we are done in terms of Fed rate hikes and higher rates, listed REITs today are priced for the interest rate environment that we have, which means they can do well," Kuhl explains, adding: "It's not an issue of fundamentals, it's purely an issue of valuation, which we think we're getting towards the end of." Kuhl and St. Juste weigh in on areas of the real estate sector that show promise, naming a few standout stocks from the landscape. "We point people to sectors where there's clear demand tailwinds — apartments, healthcare data centers, and stocks [with] names with, pricing power, better than average earnings growth to alleviate some of those concerns," St. Juste comments. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
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According to Foresight News, Indonesia's Commodity Regulatory Authority, Bappebti, has established a dedicated committee to oversee the cryptocurrency industry. The committee, composed of representatives from Bappebti, various government departments, cryptocurrency exchanges, clearing institutions, associations, scholars, and relevant practitioners, will analyze industry reports, manage a central database, assess cryptocurrency asset risks, and have the authority to recommend adding or removing assets from the list.
According to PANews, Ripple Labs has made significant progress in its legal dispute with the U.S. Securities and Exchange Commission (SEC). The SEC has taken a step in the remedial phase of the lawsuit, submitting its final response. In its recent response to the remedial measures outline, the SEC questioned Ripple Labs' claim that the blockchain startup's actions were not reckless and that the legal status of XRP should not have 'broad uncertainty', despite the court's previous rejection of this 'fair notice' defense. Since the XRP lawsuit was initiated in 2020, Ripple Labs has not violated any rules, but the SEC still maintains its stance on whether Ripple Labs may take similar actions in the future. According to the remedial measures brief, Ripple Labs tried to downplay its responsibility, while emphasizing its cooperation with the U.S. SEC since XRP's initial public offering in 2013. However, the U.S. SEC stressed that, according to the law, even if Ripple Labs has not violated any regulations since 2020, it is still possible to violate them again. The SEC believes that Ripple Labs' assurances about changing its behavior after the lawsuit are not sufficient to avoid a ban. According to the SEC, Ripple Labs' claim to follow legal guidance and restructure future XRP sales according to the lawsuit order is misleading. The SEC believes that Ripple Labs misread the lawsuit order and failed to accept its impact on compliance. The reply to the remedial measures refuted Ripple Labs' claim about sales to qualified investors outside the United States, as these defenses have been abandoned at the summary judgment stage. In addition, Ripple's claims about changes to ODL sales contracts were rejected because these contracts already lack certain restrictions deemed to be violations. Ultimately, the SEC believes that Ripple's claims do not negate the need to issue a ban to prevent future violations. In response to the SEC's reply in the remedial measures brief, Ripple's Chief Legal Officer Stuart Alderoty commented that the SEC's reputation continues to decline. He emphasized that international financial regulators with a robust cryptocurrency licensing framework might be surprised at the SEC's approach to equating its efforts with issuing fishing licenses. Alderoty criticized the SEC for not consistently applying the law. He is optimistic about resolving the XRP lawsuit. While the cryptocurrency community eagerly awaits the final outcome of the case, analysts expect the final judgment to be made around September.
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