Economists for major US companies increasingly doubt that the Federal Reserve will stick with its plan to raise interest rates three times in 2018. More than half of the economists participating in a survey by the National Association of Business Economics expect two or fewer rate hikes next year.
Ten-year Treasurys are edging higher as investors seek safe assets ahead of the Federal Reserve's Jackson Hole, Wyo., symposium. Markets will be watching Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi for indications that financial conditions will tighten in the near future.
Advent International's decision to establish a fund dedicated to debt investing is the latest example of the diversification trend in private equity. Firms are expanding away from traditional equity offerings into credit and other products with attractive risk-return profiles.
Increased multifamily supply has resulted in more competitive leasing for high-end product, especially in urban locations. Markets are varying widely in performance, with annual rent growth ranging from a 7% increase in downtown Seattle to a 5% drop in downtown Houston.
REITs offer growth potential for investors, although opportunities in the market are more nuanced now, says Scott Crowe of CenterSquare Investment Management. Retail REITs have been oversold on fears about competition from e-commerce, while quality centers are near full occupancy now, says Alexander Goldfarb of Sandler O'Neill & Partners.
Dozens of condo properties in Chicago are converting into apartments as rental rates have increased by 24% over the last seven years. Deconversion is typically complicated, but local laws in Chicago make the process straightforward.
Lucknow, the India-based majority owner of New York City's Plaza Hotel, has tapped JLL to find a buyer for the sought-after property, a source said. The sale could be as much as $500 million, making it one of the most expensive hotel transactions.
CyrusOne's capacity has been sold out since the third quarter of last year, but this quarter it is bringing on new capacity, says Gary Wojtaszek, the corporation's president and CEO. "We have nine of the top 10 largest cloud companies in the world, and we are working hard to get the last one in our portfolio," he says.
Treasury Secretary Steven Mnuchin says the current carried-interest tax treatment might be retained for job-creating funds but eliminated for hedge fund managers. The tax treatment for carried interest is part of overall negotiations for tax reform, says Senate Majority Leader Mitch McConnell, R-Ky.
The global prices for industrial metals are being driven sharply higher in the longest rally for base metals in three years. Market demand for nickel and copper remains strong, and buyers are paying more for zinc than at any time in almost a decade.
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