There may be fallout to come from this week’s surge in redemption requests at an unlisted real estate income trust
While there has been little wider fallout from this week’s surge in redemption requests at an unlisted Blackstone real estate income trust , it is being read by some as a warning sign.
“REITS had a fantastic performance for a couple of months but when you have that outperformance, investors don’t react to traditional fundamental signals such as rising rates,” she said. That helped spark the biggest monthly drop in 10-year Treasury yields since the height of the COVID-19 pandemic in 2020. Public REITS have rallied with the U.S. stock market, which is up over 15% since mid-October.
And as the mini-budget briefly triggered a ratcheting up in BoE rate-rise bets, UK REITS fell 17% to their lowest level since 2012, before recovering..