Video Update - What's Next For REITs in 2025

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The theme of uncertainty continues to dominate market discussions as we head into 2025. While recent economic indicators show mixed signals – with durable goods and capital expenditure spending performing above expectations and consumer confidence declining – it's crucial to maintain perspective on where we truly stand in the market cycle.

Let's be frank: all those confident predictions you're hearing about next year's market performance down to the decimal point? They're just guesses, folks. Nothing more, nothing less. Don't put too much stock in them.

What we do know is that we're experiencing an interesting disconnect in the markets. The S&P 500 and Nasdaq remain comfortably above their 200-day moving averages, indicating an uptrend. The Dow, however, has slipped below its 50-day moving average and is testing its 100-day support level. This could be our first warning sign of potential market weakness.

Meanwhile, bonds are telling a different story altogether. They're in a clear downtrend, and hopes for a recovery have been dashed. This isn't driven by expectations of an economic boom – rather, it reflects persistent concerns about sticky inflation and the increasing likelihood of substantial tariffs under a potential Trump administration. Remember, tariffs typically create inflationary pressure and heighten geopolitical tensions.

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