This is my favorite chart from Friday’s links:
While REITs have held up pretty well recently, the 10y yield recently broke out of the triangle pictured above and is now above 3%.
Will this be a game changer for REITs? I have no idea, but the 10y yield is definitely an important indicator to watch.
Disclosure: We have no positions in KRE or IYR. We are long VNQ.