FIG Topics of Interest

 

05/05/17

The US industrial real estate market is seeing a shortage of bulk warehouse and logistic centers available for sale and a shift in focus by industrial REITs from acquisition to development. The resulting flattening in yields will likely result in lower investment sales volumes this year.

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05/04/17

"It's an intimidating time for a lot of these retailers," said Jennifer Bartashus, an analyst at Bloomberg Intelligence. "We're poised to see a lot more change in the next couple of years." These are the five forces that are going shake up the landscape of American groceries. 

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05/03/17

How the US defense budget stacks up against the rest of the world.

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05/02/17

"Reports of the death of retail real estate have been greatly exaggerated, and Kimco's strong first quarter is living proof," said Conor Flynn, CEO of Kimco Realty. "Our leasing volume has validated the success of our transformation in helping to offset the challenging retail environment the industry is currently experiencing." 

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05/01/17

Borrowing by small U.S. firms stalled in March, as business owners remained cautious about investing amid policy uncertainty, data released on Monday showed. The Thomson Reuters/PayNet Small Business Lending Index for March registered 134, down 1 percent from last March. The index was up 4 percent from February, which had four fewer working days.

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04/28/17

Robots are likely to replace 50 percent of all jobs in the next decade, according to Kai-Fu Lee, founder of venture capital firm Sinovation Ventures and a top voice on tech in China.
Artificial intelligence (AI) is the wave of the future, the influential technologist told CNBC, calling it the "singular thing that will be larger than all of human tech revolutions added together, including electricity, [the] industrial revolution, internet, mobile internet — because AI is pervasive."

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04/27/17

Implications of a Switch to a Territorial Tax System in the United States: 
A Critical Comparison to the Current System
http://www.thinkbrg.com/media/publication/391_BRG_Implications%20of%20Territorial%20Tax_Nov2013.pdf

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04/26/17

The 10-year Treasury TPE at the end of 2016 is estimated to be negative 100 basis points. Roughly speaking, this implies the yield on a 10-year Treasury security would be 100 basis points higher absent the Federal Reserve's LSAPs and MEP programs. By the end of 2017, it stands at about negative 85 basis points. This 15 basis point narrowing reflects two changes in the balance sheet: (1) the SOMA portfolio is aging and (2) we are getting closer to a change in the reinvestment policy. When the size of the balance sheet normalizes in the first quarter of 2023, the TPE is still nonzero, standing at negative 24 basis points, reflecting the fact that the portfolio composition is still not what would be deemed a normal composition. At that time, the portfolio is projected to hold $1.2 trillion in MBS and half of the $1.1 trillion in Treasury holdings will have maturities greater than 10 years (see figure 2). In comparison, before the crisis, the portfolio held no MBS and only $90 billion of the $800 billion in Treasury holdings had maturities greater than 10 years.

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04/24/17

Government funding ends Friday, allowing only three full days of legislative activity after the House returns late Tuesday night, and the last-minute controversial requests from the administration are threatening to make a deal harder to reach.
Because Congress failed to come together on an appropriations bill for 2017 last year, its passed a short-term measure called a Continuing Resolution, or CR, that funds the government at 2016 levels. But the CR runs out on Friday, giving Congress a hard deadline to pass a comprehensive funding bill to finish the current fiscal year.

 

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04/21/17

Reflecting the more modest pace of CRE sales volume this year than in the previous two, CRE lending growth by banks in the first quarter dropped to its slowest level of growth in two years, which should help federal banking regulators sleep better after warning about overheated commercial real estate lending. 

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