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- The Daily REITBeat | Wednesday, June 25th, 2025
The Daily REITBeat | Wednesday, June 25th, 2025
"A Steady Ship?"
David Auerbach
June 25, 2025
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Futures mixed at the time of this writing as talking heads focus on Chairman Powell’s testimony on Capitol Hill along with Iran/Israel truce holding up, oil movement, and the Nasdaq 100 hitting a new high.
From Bloomberg
"US stock futures and Treasuries held firm as traders awaited a second day of testimony from Federal Reserve Chair Jerome Powell after the Nasdaq 100 closed at an all-time high.
S&P 500 contracts were flat. The Nasdaq 100 was set to extend its record run, with index futures rising 0.2%. Oil rebounded following the biggest two-day decline since 2022, with Brent crude trading 0.8% higher near $68 a barrel. The dollar posted small gains.
Treasuries were little changed after the benchmark 10-year yield shed five basis points Tuesday, as Powell’s comments before House lawmakers and weak consumer data boosted bets on the pace of rate cuts in 2025.
Swap traders are currently pricing in a 15% probability of a quarter-point cut next month, with expectations for at least two reductions by year-end. Powell is due to appear in the Senate on Wednesday."
In REIT News
NNN priced $500 million of 4.60% senior unsecured notes due 2031 and intends to use the net proceeds to repay all of the outstanding indebtedness under its credit facility, to fund future property acquisitions and for general corporate purposes
FCPT announced the acquisition of four Cheddar's Scratch Kitchen properties located in strong retail corridors in Kentucky (2), Indiana (1), and Virginia (1) for $14.7 million noting that the properties are corporate-operated and under long-term triple net leases and priced at a cap rate in range with previous FCPT transactions
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David Auerbach